Proficio Capital Partners LLC Purchases Shares of 14,313 EchoStar Co. (NASDAQ:SATS)

Proficio Capital Partners LLC acquired a new position in shares of EchoStar Co. (NASDAQ:SATS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,313 shares of the communications equipment provider’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 1,151 shares during the last quarter. KBC Group NV boosted its stake in shares of EchoStar by 65.1% in the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after buying an additional 2,635 shares during the period. Neo Ivy Capital Management bought a new position in shares of EchoStar in the third quarter worth $272,000. SG Americas Securities LLC increased its holdings in EchoStar by 136.0% in the 4th quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider’s stock valued at $359,000 after buying an additional 9,042 shares during the period. Finally, Quantbot Technologies LP bought a new position in EchoStar in the third quarter valued at about $383,000. 33.62% of the stock is owned by institutional investors.

EchoStar Trading Down 0.7 %

NASDAQ:SATS opened at $26.70 on Wednesday. The firm has a market cap of $7.65 billion, a P/E ratio of -2.91 and a beta of 0.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar Co. has a 52 week low of $12.66 and a 52 week high of $32.48. The firm’s fifty day moving average is $28.00 and its 200-day moving average is $25.54.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Equities analysts expect that EchoStar Co. will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.