SG Americas Securities LLC Invests $165,000 in EchoStar Co. (NASDAQ:SATS)

SG Americas Securities LLC bought a new stake in shares of EchoStar Co. (NASDAQ:SATS) during the third quarter, Holdings Channel.com reports. The fund bought 6,647 shares of the communications equipment provider’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of EchoStar by 125.3% during the 2nd 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 grew 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 worth $30,000 after purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC grew 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 purchasing an additional 1,469 shares during the period. Nisa Investment Advisors LLC raised its holdings in EchoStar by 122.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in EchoStar during the first quarter valued at $67,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. UBS Group upped their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.20.

EchoStar Trading Down 0.7 %

NASDAQ:SATS opened at $24.95 on Friday. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of -2.90 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average price is $23.03 and its 200-day moving average price is $19.49. EchoStar Co. has a 52 week low of $9.53 and a 52 week high of $30.08.

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