State of New Jersey Common Pension Fund D Sells 13,142 Shares of EchoStar Co. (NASDAQ:SATS)

State of New Jersey Common Pension Fund D trimmed its stake in EchoStar Co. (NASDAQ:SATS) by 13.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 86,635 shares of the communications equipment provider’s stock after selling 13,142 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EchoStar were worth $1,984,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. KBC Group NV grew its position in 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 acquiring an additional 2,635 shares during the period. Neo Ivy Capital Management bought a new stake in EchoStar in the third quarter valued at $272,000. GSA Capital Partners LLP bought a new stake in EchoStar in the third quarter valued at $285,000. Quantbot Technologies LP bought a new stake in EchoStar in the third quarter valued at $383,000. Finally, SG Americas Securities LLC grew its position in EchoStar by 136.0% in the fourth quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider’s stock valued at $359,000 after acquiring an additional 9,042 shares during the period. 33.62% of the stock is currently owned by institutional investors.

EchoStar Trading Down 2.0 %

Shares of SATS opened at $29.57 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. EchoStar Co. has a 12-month low of $11.83 and a 12-month high of $30.55. The firm has a market capitalization of $8.04 billion, a PE ratio of -3.23 and a beta of 0.72. The stock’s fifty day simple moving average is $25.86 and its 200-day simple moving average is $24.12.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SATS shares. StockNews.com upgraded EchoStar to a “sell” rating in a research report on Saturday, November 9th. TD Cowen decreased their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. UBS Group increased their target price on EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Finally, Morgan Stanley initiated coverage on EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.75.

EchoStar 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.