GAMMA Investing LLC Has $55,000 Stock Holdings in EchoStar Co. (NASDAQ:SATS)

GAMMA Investing LLC lifted its stake in EchoStar Co. (NASDAQ:SATS) by 54.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,231 shares of the communications equipment provider’s stock after acquiring an additional 789 shares during the quarter. GAMMA Investing LLC’s holdings in EchoStar were worth $55,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Hawaiian Bank acquired a new position in shares of EchoStar during the 1st quarter worth approximately $197,000. Alaska Permanent Fund Corp bought a new stake in EchoStar during the first quarter worth $585,000. Salem Investment Counselors Inc. lifted its stake in EchoStar by 17.8% in the first quarter. Salem Investment Counselors Inc. now owns 28,924 shares of the communications equipment provider’s stock valued at $412,000 after acquiring an additional 4,379 shares during the last quarter. Unison Advisors LLC bought a new position in shares of EchoStar in the 1st quarter valued at about $325,000. Finally, State of Alaska Department of Revenue increased its stake in shares of EchoStar by 247.3% during the 1st quarter. State of Alaska Department of Revenue now owns 73,380 shares of the communications equipment provider’s stock worth $1,045,000 after purchasing an additional 52,249 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

SATS has been the subject of a number of research analyst reports. UBS Group lifted their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. StockNews.com raised EchoStar to a “sell” rating in a report on Tuesday, July 30th. Morgan Stanley upped their price objective on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, TD Cowen reduced their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.20.

EchoStar Trading Down 0.3 %

SATS stock opened at $25.71 on Thursday. EchoStar Co. has a 52 week low of $9.53 and a 52 week high of $30.08. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The company’s 50-day simple moving average is $21.99 and its 200 day simple moving average is $19.00. The company has a market capitalization of $6.98 billion, a PE ratio of -3.33 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last announced its earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate 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 positive return on equity of 0.18% and a negative net margin of 18.65%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, sell-side analysts anticipate that EchoStar Co. will post -1.73 earnings per share for the current year.

EchoStar 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.