Hsbc Holdings PLC Acquires 15,004 Shares of EchoStar Co. (NASDAQ:SATS)

Hsbc Holdings PLC raised its stake in EchoStar Co. (NASDAQ:SATS - Free Report) by 97.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,350 shares of the communications equipment provider's stock after acquiring an additional 15,004 shares during the quarter. Hsbc Holdings PLC's holdings in EchoStar were worth $697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings in shares of EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock worth $37,000 after purchasing an additional 1,151 shares during the period. Covestor Ltd grew its position in EchoStar by 189.1% during the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock worth $110,000 after buying an additional 3,137 shares in the last quarter. KBC Group NV increased its stake in EchoStar by 65.1% during the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after acquiring an additional 2,635 shares during the period. Xponance Inc. raised its holdings in EchoStar by 8.7% in the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock valued at $201,000 after acquiring an additional 701 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in shares of EchoStar during the 4th quarter valued at $204,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Price Performance

NASDAQ:SATS traded up $0.40 during trading hours on Friday, hitting $24.25. The company's stock had a trading volume of 2,363,302 shares, compared to its average volume of 1,728,364. EchoStar Co. has a twelve month low of $14.40 and a twelve month high of $32.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The stock has a fifty day simple moving average of $24.25 and a 200-day simple moving average of $25.11. The company has a market capitalization of $6.95 billion, a P/E ratio of -2.65 and a beta of 0.83.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The communications equipment provider reported ($0.71) earnings per share for the quarter, beating analysts' consensus estimates of ($0.89) by $0.18. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The company's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. On average, analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, UBS Group boosted their price target on EchoStar from $15.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, EchoStar has an average rating of "Hold" and an average price target of $23.75.

EchoStar 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.