Victory Capital Management Inc. Reduces Position in EchoStar Co. (NASDAQ:SATS)

Victory Capital Management Inc. decreased its position in EchoStar Co. (NASDAQ:SATS) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 44,828 shares of the communications equipment provider’s stock after selling 1,939 shares during the period. Victory Capital Management Inc.’s holdings in EchoStar were worth $1,027,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SATS. GSA Capital Partners LLP purchased a new stake in shares of EchoStar in the third quarter valued at approximately $285,000. Natixis Advisors LLC boosted its holdings in shares of EchoStar by 9.8% in the third quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock valued at $541,000 after purchasing an additional 1,942 shares during the period. Intech Investment Management LLC purchased a new stake in shares of EchoStar in the third quarter valued at approximately $651,000. Citigroup Inc. boosted its holdings in shares of EchoStar by 32.7% in the third quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after purchasing an additional 40,533 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of EchoStar in the third quarter valued at approximately $383,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

SATS has been the subject of a number of research reports. UBS Group boosted their price target on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Morgan Stanley began coverage on EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.75.

EchoStar Stock Up 1.4 %

EchoStar stock opened at $26.50 on Friday. The business has a fifty day moving average of $27.79 and a two-hundred day moving average of $25.32. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The firm has a market cap of $7.59 billion, a P/E ratio of -2.89 and a beta of 0.65. EchoStar Co. has a twelve month low of $12.66 and a twelve month high of $32.48.

EchoStar (NASDAQ:SATS) last posted its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.87. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. On average, analysts forecast that EchoStar Co. will post -1.99 earnings per share for the current fiscal 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.