Cibc World Markets Corp Acquires New Holdings in EchoStar Co. (NASDAQ:SATS)

Cibc World Markets Corp bought a new position in shares of EchoStar Co. (NASDAQ:SATS) in the fourth quarter, HoldingsChannel.com reports. The firm bought 11,392 shares of the communications equipment provider’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. grew its stake in EchoStar by 32.7% in the third quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock valued at $4,084,000 after purchasing an additional 40,533 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of EchoStar during the 3rd quarter valued at $651,000. Stonehill Capital Management LLC purchased a new stake in shares of EchoStar during the 3rd quarter valued at $9,235,000. Illinois Municipal Retirement Fund boosted its position in shares of EchoStar by 30.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 69,076 shares of the communications equipment provider’s stock worth $1,582,000 after purchasing an additional 16,253 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in EchoStar during the 3rd quarter worth $1,230,000. Institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SATS shares. UBS Group increased their price target on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Morgan Stanley began coverage on shares of EchoStar in a research report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.75.

EchoStar Stock Performance

Shares of SATS opened at $26.70 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The stock has a 50-day moving average of $28.00 and a two-hundred day moving average of $25.54. The stock has a market cap of $7.65 billion, a P/E ratio of -2.91 and a beta of 0.65. EchoStar Co. has a one year low of $12.66 and a one year high of $32.48.

EchoStar (NASDAQ:SATS) last released its earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.93 billion. As a group, research analysts predict that EchoStar Co. will post -1.99 EPS for the current year.

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.