EchoStar Co. (NASDAQ:SATS) Stock Holdings Cut by Quaker Capital Investments LLC

Quaker Capital Investments LLC cut its stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,824,646 shares of the communications equipment provider's stock after selling 38,164 shares during the quarter. EchoStar makes up approximately 15.5% of Quaker Capital Investments LLC's holdings, making the stock its 2nd biggest holding. Quaker Capital Investments LLC owned about 0.67% of EchoStar worth $41,784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SATS. FIL Ltd increased its holdings in EchoStar by 139.9% during the fourth quarter. FIL Ltd now owns 601,250 shares of the communications equipment provider's stock valued at $13,769,000 after buying an additional 350,650 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of EchoStar by 30.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider's stock worth $1,582,000 after purchasing an additional 16,253 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of EchoStar in the 4th quarter worth approximately $3,033,000. Bank of New York Mellon Corp grew its holdings in EchoStar by 15.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider's stock worth $23,354,000 after purchasing an additional 133,819 shares during the last quarter. Finally, State Street Corp raised its stake in EchoStar by 1.3% in the third quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider's stock valued at $118,546,000 after buying an additional 62,674 shares during the last quarter. Institutional investors own 33.62% of the company's stock.

EchoStar Stock Performance

EchoStar stock traded down $0.35 during trading hours on Friday, hitting $21.75. 1,234,897 shares of the stock traded hands, compared to its average volume of 1,735,347. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 1 year low of $13.52 and a 1 year high of $32.48. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -2.37 and a beta of 0.72. The firm's 50 day moving average price is $26.28 and its 200-day moving average price is $25.31.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $1.87. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. As a group, equities analysts expect 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 stock a "neutral" rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.75.

About EchoStar

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.