Northern Trust Corp Increases Stake in EchoStar Co. (NASDAQ:SATS)

Northern Trust Corp increased its position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,356,396 shares of the communications equipment provider's stock after purchasing an additional 78,421 shares during the period. Northern Trust Corp owned approximately 0.50% of EchoStar worth $31,061,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position 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 valued at $37,000 after buying an additional 1,151 shares during the period. Quarry LP lifted its stake in shares of EchoStar by 8,906.7% during the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider's stock worth $93,000 after acquiring an additional 4,008 shares during the last quarter. Covestor Ltd boosted its holdings in EchoStar by 189.1% during the 4th quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock valued at $110,000 after acquiring an additional 3,137 shares during the period. KBC Group NV grew its position in EchoStar by 65.1% in the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock valued at $153,000 after acquiring an additional 2,635 shares during the last quarter. Finally, Xponance Inc. increased its stake in EchoStar by 8.7% in the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock worth $201,000 after purchasing an additional 701 shares during the period. 33.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, UBS Group upped their price target on shares of EchoStar from $15.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.75.

EchoStar Trading Up 1.7 %

Shares of NASDAQ SATS opened at $24.25 on Friday. EchoStar Co. has a twelve month low of $14.79 and a twelve month high of $32.48. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The business has a fifty day simple moving average of $24.25 and a two-hundred day simple moving average of $25.11. The firm has a market cap of $6.95 billion, a PE ratio of -2.65 and a beta of 0.83.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The communications equipment provider reported ($0.71) earnings per share for the quarter, topping 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 had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm earned ($0.40) earnings per share. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.

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.

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