Blair William & Co. IL Acquires New Stake in EchoStar Corporation (NASDAQ:SATS)

Blair William & Co. IL acquired a new stake in shares of EchoStar Corporation (NASDAQ:SATS) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 13,058 shares of the communications equipment provider’s stock, valued at approximately $334,000.

Several other large investors also recently added to or reduced their stakes in the business. Amalgamated Bank boosted its holdings in shares of EchoStar by 50.3% in the 1st quarter. Amalgamated Bank now owns 53,287 shares of the communications equipment provider’s stock worth $1,363,000 after purchasing an additional 17,830 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of EchoStar by 4.7% during the 1st quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider’s stock valued at $10,027,000 after buying an additional 17,448 shares in the last quarter. Nebula Research & Development LLC raised its holdings in shares of EchoStar by 88.7% during the 4th quarter. Nebula Research & Development LLC now owns 41,673 shares of the communications equipment provider’s stock valued at $954,000 after buying an additional 19,590 shares in the last quarter. Retirement Systems of Alabama purchased a new position in shares of EchoStar during the 1st quarter valued at about $3,762,000. Finally, GAMMA Investing LLC raised its holdings in shares of EchoStar by 3,470.8% during the 1st quarter. GAMMA Investing LLC now owns 88,021 shares of the communications equipment provider’s stock valued at $2,252,000 after buying an additional 85,556 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised their price objective on EchoStar from $27.00 to $28.50 and gave the company a “neutral” rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.70.

EchoStar Stock Up 1.5%

SATS opened at $27.48 on Tuesday. The company has a market cap of $7.91 billion, a P/E ratio of -26.17 and a beta of 0.94. The business’s 50-day moving average price is $26.36 and its 200-day moving average price is $25.48. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. EchoStar Corporation has a 12 month low of $14.79 and a 12 month high of $34.20.

EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.06. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) earnings per share. On average, equities analysts expect that EchoStar Corporation will post -1.99 EPS for the current year.

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.