Maryland State Retirement & Pension System Buys New Position in EchoStar Co. (NASDAQ:SATS)

Maryland State Retirement & Pension System bought a new position in EchoStar Co. (NASDAQ:SATSFree Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,755 shares of the communications equipment provider’s stock, valued at approximately $195,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. New York State Teachers Retirement System bought a new stake in shares of EchoStar in the 4th quarter valued at $126,000. Quantbot Technologies LP boosted its stake in EchoStar by 150.2% during the third quarter. Quantbot Technologies LP now owns 9,439 shares of the communications equipment provider’s stock worth $158,000 after acquiring an additional 5,666 shares in the last quarter. Xponance Inc. acquired a new stake in EchoStar in the fourth quarter worth $188,000. Yousif Capital Management LLC acquired a new position in shares of EchoStar during the fourth quarter valued at about $195,000. Finally, Principal Financial Group Inc. bought a new position in shares of EchoStar during the 3rd quarter worth about $231,000. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $15.31 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $13.65. EchoStar Co. has a 1-year low of $9.53 and a 1-year high of $24.80. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of -1.99 and a beta of 0.62.

EchoStar (NASDAQ:SATSGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23). EchoStar had a negative net margin of 23.47% and a positive return on equity of 2.26%. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Analysts anticipate that EchoStar Co. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at EchoStar

In other EchoStar news, Director James Defranco bought 110,000 shares of EchoStar stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of $13.48 per share, for a total transaction of $1,482,800.00. Following the completion of the purchase, the director now directly owns 306,951 shares of the company’s stock, valued at $4,137,699.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 55.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on SATS shares. JPMorgan Chase & Co. began coverage on EchoStar in a research report on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 target price for the company. UBS Group lifted their price target on shares of EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. StockNews.com assumed coverage on shares of EchoStar in a report on Saturday, April 13th. They set a “sell” rating on the stock. TD Cowen reduced their price objective on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Finally, Morgan Stanley lowered their target price on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Check Out Our Latest Stock Report on EchoStar

About EchoStar

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EchoStar Co. (NASDAQ:SATSFree Report).

Institutional Ownership by Quarter for EchoStar (NASDAQ:SATS)

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