Algert Global LLC Grows Stock Position in EchoStar Co. (NASDAQ:SATS)

Algert Global LLC increased its stake in EchoStar Co. (NASDAQ:SATS) by 430.1% in the second quarter, Holdings Channel reports. The institutional investor owned 86,147 shares of the communications equipment provider’s stock after acquiring an additional 69,897 shares during the period. Algert Global LLC’s holdings in EchoStar were worth $1,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 802 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in EchoStar by 694.8% in 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 boosted its position in shares of EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 1,469 shares during the period. Quarry LP purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $41,000. Finally, Central Pacific Bank Trust Division bought a new position in shares of EchoStar during the first quarter valued at approximately $67,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SATS. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research report on Monday, August 12th. TD Cowen cut their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Morgan Stanley raised their price target on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Finally, StockNews.com raised shares of EchoStar to a “sell” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.00.

EchoStar Stock Down 2.8 %

NASDAQ:SATS opened at $23.67 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. The firm has a market cap of $6.43 billion, a PE ratio of -3.08 and a beta of 0.70. The company has a 50-day moving average of $21.03 and a 200 day moving average of $18.25. EchoStar Co. has a 1-year low of $9.53 and a 1-year high of $30.08.

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