EchoStar Co. (NASDAQ:SATS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in EchoStar Co. (NASDAQ:SATS) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,537 shares of the communications equipment provider’s stock after selling 2,814 shares during the period. Rhumbline Advisers’ holdings in EchoStar were worth $8,577,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SATS. State Street Corp grew its position in shares of EchoStar by 1.3% during the third quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock worth $118,546,000 after acquiring an additional 62,674 shares during the last quarter. Darsana Capital Partners LP boosted its stake in EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock valued at $74,460,000 after purchasing an additional 927,695 shares during the period. Stonehill Capital Management LLC bought a new position in EchoStar in the 3rd quarter worth about $9,235,000. Empowered Funds LLC increased its stake in shares of EchoStar by 6.1% in the fourth quarter. Empowered Funds LLC now owns 344,188 shares of the communications equipment provider’s stock valued at $7,882,000 after purchasing an additional 19,772 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of EchoStar by 32.7% during the third quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after buying an additional 40,533 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen lowered their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. Morgan Stanley began coverage on shares of EchoStar in a research note on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.75.

EchoStar Trading Down 1.9 %

Shares of SATS stock opened at $29.00 on Tuesday. The stock has a 50-day simple moving average of $25.97 and a 200 day simple moving average of $24.18. The stock has a market capitalization of $7.88 billion, a P/E ratio of -3.17 and a beta of 0.72. EchoStar Co. has a fifty-two week low of $11.83 and a fifty-two week high of $30.55. 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 Company 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.