Pennant Investors LP Has $55.37 Million Stock Holdings in EchoStar Co. (NASDAQ:SATS)

Pennant Investors LP increased its position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,417,837 shares of the communications equipment provider's stock after acquiring an additional 97,000 shares during the quarter. EchoStar comprises about 15.8% of Pennant Investors LP's investment portfolio, making the stock its 2nd largest position. Pennant Investors LP owned approximately 0.89% of EchoStar worth $55,368,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider's stock valued at $37,000 after purchasing an additional 1,151 shares during the period. Covestor Ltd lifted its stake in EchoStar by 189.1% in the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider's stock valued at $110,000 after buying an additional 3,137 shares during the period. KBC Group NV boosted its holdings in EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider's stock worth $153,000 after buying an additional 2,635 shares during the last quarter. Xponance Inc. grew its position in shares of EchoStar by 8.7% during the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider's stock worth $201,000 after buying an additional 701 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of EchoStar in the 4th quarter valued at about $204,000. Institutional investors own 33.62% of the company's stock.

Wall Street Analysts Forecast Growth

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

EchoStar Stock Up 0.2 %

Shares of NASDAQ SATS traded up $0.05 during mid-day trading on Friday, reaching $22.56. 984,349 shares of the company's stock were exchanged, compared to its average volume of 1,740,091. EchoStar Co. has a twelve month low of $14.40 and a twelve month high of $32.48. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of -2.46 and a beta of 0.72. The business has a fifty day simple moving average of $25.54 and a 200 day simple moving average of $25.23.

EchoStar (NASDAQ:SATS - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $1.87. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. As a group, equities analysts expect that EchoStar Co. will post -1.99 EPS for the current fiscal 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.