PNC Financial Services Group Inc. Sells 1,349 Shares of EchoStar Co. (NASDAQ:SATS)

PNC Financial Services Group Inc. lowered its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,352 shares of the communications equipment provider’s stock after selling 1,349 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EchoStar were worth $168,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SATS. Smartleaf Asset Management LLC raised its holdings in EchoStar by 251.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 1,151 shares during the period. KBC Group NV increased its position in shares of EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock worth $153,000 after acquiring an additional 2,635 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of EchoStar during the third quarter worth $272,000. GSA Capital Partners LLP bought a new stake in EchoStar in the 3rd quarter valued at $285,000. Finally, Proficio Capital Partners LLC acquired a new position in EchoStar in the 4th quarter worth $328,000. Institutional investors own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

EchoStar Stock Down 0.2 %

Shares of SATS stock opened at $26.46 on Monday. The firm’s fifty day moving average price is $27.86 and its two-hundred day moving average price is $25.48. EchoStar Co. has a 1 year low of $12.66 and a 1 year high of $32.48. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $7.58 billion, a P/E ratio of -2.89 and a beta of 0.65.

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