New York State Teachers Retirement System Purchases Shares of 7,579 EchoStar Co. (NASDAQ:SATS)

New York State Teachers Retirement System bought a new position in shares of EchoStar Co. (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,579 shares of the communications equipment provider’s stock, valued at approximately $126,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its position in shares of EchoStar by 126.6% during the 2nd quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 809 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of EchoStar during the 1st quarter worth about $34,000. Federated Hermes Inc. raised its position in shares of EchoStar by 95.0% during the 3rd quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 1,377 shares in the last quarter. Royal Bank of Canada raised its position in shares of EchoStar by 159.9% during the 3rd quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock worth $48,000 after acquiring an additional 1,777 shares in the last quarter. Finally, UBS Group AG raised its position in shares of EchoStar by 139.4% during the 4th quarter. UBS Group AG now owns 5,053 shares of the communications equipment provider’s stock worth $84,000 after acquiring an additional 2,942 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Trading Down 0.1 %

Shares of SATS stock opened at $14.55 on Friday. The business’s 50 day moving average is $13.64 and its two-hundred day moving average is $13.47. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $24.80. The company has a market capitalization of $3.95 billion, a P/E ratio of -2.09 and a beta of 0.69. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

EchoStar (NASDAQ:SATS) last announced its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.02 by $1.19. EchoStar had a positive return on equity of 5.24% and a negative net margin of 36.33%. The company had revenue of $4.16 billion for the quarter. During the same quarter last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 732.2% compared to the same quarter last year. Equities analysts forecast that EchoStar Co. will post -1.28 EPS for the current year.

Insider Buying and Selling at EchoStar

In related news, Director James Defranco bought 70,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $13.14 per share, for a total transaction of $919,800.00. Following the purchase, the director now owns 176,951 shares of the company’s stock, valued at approximately $2,325,136.14. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 55.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SATS. TD Cowen cut their target price on EchoStar from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. StockNews.com began coverage on EchoStar in a research report on Saturday, April 13th. They set a “sell” rating on the stock. JPMorgan Chase & Co. began coverage on EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price target on the stock. Morgan Stanley cut their price target on EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Finally, UBS Group lifted their price target on EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EchoStar presently has an average rating of “Hold” and a consensus target price of $23.00.

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.