Quantedge Capital Pte Ltd Acquires Shares of 12,400 EchoStar Co. (NASDAQ:SATS)

Quantedge Capital Pte Ltd acquired a new stake in shares of EchoStar Co. (NASDAQ:SATS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,400 shares of the communications equipment provider's stock, valued at approximately $284,000.

Other hedge funds have also bought and sold shares of the company. FIL Ltd increased its position 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 acquiring an additional 350,650 shares during the last quarter. Nebula Research & Development LLC grew its holdings in shares of EchoStar by 88.7% in the fourth quarter. Nebula Research & Development LLC now owns 41,673 shares of the communications equipment provider's stock worth $954,000 after purchasing an additional 19,590 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of EchoStar by 30.8% in the fourth 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. Pennant Investors LP grew its holdings in shares of EchoStar by 4.2% in the fourth quarter. Pennant Investors LP now owns 2,417,837 shares of the communications equipment provider's stock worth $55,368,000 after purchasing an additional 97,000 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of EchoStar in the fourth quarter worth about $3,033,000. Institutional investors own 33.62% of the company's stock.

EchoStar Trading Up 15.2%

NASDAQ SATS opened at $22.78 on Thursday. The company's 50-day moving average price is $23.75 and its 200-day moving average price is $25.02. 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 stock has a market cap of $6.53 billion, a PE ratio of -2.49 and a beta of 0.83. EchoStar Co. has a 12 month low of $14.79 and a 12 month high of $32.48.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.19. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The firm had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.87 billion. During the same period in the prior year, the business posted ($0.40) earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that EchoStar Co. will post -1.99 earnings per share for the current year.

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.

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