EchoStar Co. (NASDAQ:SATS) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in shares of EchoStar Co. (NASDAQ:SATS) by 17.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,401 shares of the communications equipment provider’s stock after selling 3,497 shares during the period. Inspire Investing LLC’s holdings in EchoStar were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of EchoStar by 54.7% in the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 789 shares during the period. Louisiana State Employees Retirement System grew its position in EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock worth $1,081,000 after purchasing an additional 1,100 shares during the last quarter. Hexagon Capital Partners LLC increased 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 valued at $30,000 after purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC raised its holdings in shares of EchoStar by 183.6% in 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 last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of EchoStar by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock worth $1,240,000 after buying an additional 2,176 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. TD Cowen reduced their price objective 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, Morgan Stanley boosted their target price on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, EchoStar currently has an average rating of “Hold” and an average price target of $24.20.

EchoStar Trading Down 0.6 %

Shares of EchoStar stock opened at $25.38 on Friday. The company has a 50-day moving average of $22.23 and a two-hundred day moving average of $19.09. EchoStar Co. has a 12-month low of $9.53 and a 12-month high of $30.08. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $6.90 billion, a PE ratio of -2.96 and a beta of 0.71.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data 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). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, research analysts anticipate that EchoStar Co. will post -1.73 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.