XTX Topco Ltd Increases Position in EchoStar Corporation (NASDAQ:SATS)

Key Points

• XTX Topco Ltd increased its holdings in EchoStar Corporation by 121.2% in Q1, acquiring an additional 22,163 shares to reach a total of 40,443 shares valued at approximately $1,035,000.
• Wall Street analysts have a consensus rating of "Hold" for EchoStar, with Citigroup raising their price target from $27.00 to $28.50.
• EchoStar reported a negative EPS of ($1.06) for the last quarter, which was slightly better than analysts' expectations, but its revenue of $3.72 billion fell short of the anticipated $3.80 billion.

XTX Topco Ltd lifted its stake in EchoStar Corporation (NASDAQ:SATS - Free Report) by 121.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,443 shares of the communications equipment provider's stock after purchasing an additional 22,163 shares during the quarter. XTX Topco Ltd's holdings in EchoStar were worth $1,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in shares of EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 975 shares during the period. Fifth Third Bancorp raised its holdings in EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after purchasing an additional 567 shares during the period. State of Wyoming bought a new position in EchoStar in the 4th quarter worth $47,000. GAMMA Investing LLC raised its holdings in EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock worth $88,000 after purchasing an additional 976 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in EchoStar in the 1st quarter worth $102,000. 33.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup raised their target price on EchoStar from $27.00 to $28.50 and gave the stock a "neutral" rating in a report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.70.

EchoStar Price Performance

Shares of EchoStar stock traded up $0.33 during trading on Thursday, reaching $27.32. 750,860 shares of the stock traded hands, compared to its average volume of 2,966,329. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -25.93 and a beta of 0.94. The business has a fifty day simple moving average of $25.85 and a two-hundred day simple moving average of $25.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.19. EchoStar Corporation has a 52-week low of $14.79 and a 52-week high of $34.20.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.06. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%. The firm's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.76) earnings per share. Sell-side analysts expect that EchoStar Corporation will post -1.99 EPS for the current year.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.