Creative Planning Has $444,000 Stock Holdings in EchoStar Co. (NASDAQ:SATS)

Creative Planning increased its stake in EchoStar Co. (NASDAQ:SATS) by 44.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,904 shares of the communications equipment provider’s stock after acquiring an additional 7,693 shares during the quarter. Creative Planning’s holdings in EchoStar were worth $444,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of EchoStar by 238.7% in the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after purchasing an additional 9,661,167 shares during the period. Darsana Capital Partners LP acquired a new stake in EchoStar during the second quarter worth approximately $36,908,000. Monarch Alternative Capital LP bought a new stake in EchoStar in the first quarter worth approximately $21,375,000. American Century Companies Inc. grew its position in shares of EchoStar by 51.5% during the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock worth $39,961,000 after buying an additional 762,462 shares during the period. Finally, Apollo Management Holdings L.P. bought a new stake in shares of EchoStar in the 1st quarter valued at $10,507,000. 33.62% of the stock is currently owned by institutional investors.

EchoStar Stock Up 2.5 %

SATS opened at $25.79 on Wednesday. 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 capitalization of $7.00 billion, a P/E ratio of -3.35 and a beta of 0.71. EchoStar Co. has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The company’s 50-day moving average is $21.86 and its 200 day moving average is $18.91.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). The business had revenue of $3.95 billion during 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%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 earnings per share. Research analysts expect that EchoStar Co. will post -1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SATS shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 price target on shares of EchoStar in a research note on Monday, August 12th. Morgan Stanley raised their price objective on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. StockNews.com raised EchoStar to a “sell” rating in a research report on Tuesday, July 30th. TD Cowen reduced 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. Finally, Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, EchoStar presently has a consensus rating of “Hold” and a consensus price target of $23.00.

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.