D. E. Shaw & Co. Inc. Reduces Stock Position in EchoStar Co. (NASDAQ:SATS)

D. E. Shaw & Co. Inc. decreased its position in EchoStar Co. (NASDAQ:SATS) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,334,255 shares of the communications equipment provider’s stock after selling 165,745 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.49% of EchoStar worth $23,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 802 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of EchoStar by 694.8% during the 2nd 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 in the last quarter. Eagle Bay Advisors LLC raised its stake in EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares in the last quarter. Quarry LP purchased a new stake in EchoStar in the fourth quarter worth about $41,000. Finally, Central Pacific Bank Trust Division bought a new stake in EchoStar during the 1st quarter valued at approximately $67,000. 33.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 price target on shares of EchoStar in a research note on Monday, August 12th. Morgan Stanley boosted their price objective on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Tuesday, July 30th. Finally, TD Cowen dropped their price target on EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.00.

EchoStar Trading Up 8.9 %

NASDAQ:SATS opened at $28.04 on Monday. EchoStar Co. has a one year low of $9.53 and a one year high of $30.08. The business has a fifty day moving average price of $20.74 and a 200-day moving average price of $18.06. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of -3.64 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data 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 company had revenue of $3.95 billion during 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 quarterly revenue was down 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Sell-side analysts forecast that EchoStar Co. will post -1.81 EPS for the current year.

About EchoStar

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.