Vanguard Personalized Indexing Management LLC Sells 7,702 Shares of EchoStar Co. (NASDAQ:SATS)

Vanguard Personalized Indexing Management LLC cut its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 36.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,284 shares of the communications equipment provider’s stock after selling 7,702 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in EchoStar were worth $232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SATS. GAMMA Investing LLC lifted its stake in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC lifted its stake in EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 1,469 shares during the last quarter. Quarry LP bought a new stake in EchoStar during the fourth quarter worth $41,000. Finally, Central Pacific Bank Trust Division bought a new stake in EchoStar during the first quarter worth $67,000. 33.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. TD Cowen decreased their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Morgan Stanley lifted their price target on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, EchoStar has an average rating of “Hold” and a consensus price target of $23.00.

EchoStar Trading Up 8.9 %

Shares of SATS stock opened at $28.04 on Monday. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -3.64 and a beta of 0.70. The stock has a 50-day moving average of $20.74 and a 200-day moving average of $18.06. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. EchoStar Co. has a 1-year low of $9.53 and a 1-year high of $30.08.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the company posted $0.39 EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities research analysts forecast that EchoStar Co. will post -1.81 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.