EchoStar Co. (NASDAQ:SATS) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its holdings in EchoStar Co. (NASDAQ:SATS) by 26.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,301,367 shares of the communications equipment provider’s stock after buying an additional 474,313 shares during the quarter. Invesco Ltd.’s holdings in EchoStar were worth $52,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SATS. Xponance Inc. grew its stake in shares of EchoStar by 8.7% during the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock worth $201,000 after purchasing an additional 701 shares during the period. Smartleaf Asset Management LLC boosted its holdings in EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 1,151 shares in the last quarter. Inspire Investing LLC grew its position in EchoStar by 7.3% during the fourth quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider’s stock worth $403,000 after buying an additional 1,198 shares during the period. Swiss National Bank increased its holdings in EchoStar by 0.8% in the fourth quarter. Swiss National Bank now owns 248,425 shares of the communications equipment provider’s stock valued at $5,689,000 after buying an additional 2,000 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of EchoStar by 65.1% during the 4th 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. Institutional investors and hedge funds own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised their price objective on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, EchoStar currently has a consensus rating of “Hold” and an average target price of $23.75.

EchoStar Trading Up 1.1 %

Shares of EchoStar stock opened at $22.98 on Wednesday. EchoStar Co. has a 1 year low of $13.49 and a 1 year high of $32.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The business has a 50 day moving average price of $26.71 and a 200 day moving average price of $25.37. The company has a market capitalization of $6.58 billion, a P/E ratio of -2.51 and a beta of 0.72.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $1.87. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. Sell-side analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal 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.