Intech Investment Management LLC Acquires 51,488 Shares of EchoStar Co. (NASDAQ:SATS)

Intech Investment Management LLC raised its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 196.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,704 shares of the communications equipment provider’s stock after purchasing an additional 51,488 shares during the period. Intech Investment Management LLC’s holdings in EchoStar were worth $1,779,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SATS. Smartleaf Asset Management LLC increased 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 valued at $37,000 after buying an additional 1,151 shares during the period. KBC Group NV boosted its position in 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 in the last quarter. Neo Ivy Capital Management purchased a new position in shares of EchoStar in the 3rd quarter valued at $272,000. Cibc World Markets Corp bought a new position in shares of EchoStar in the 4th quarter worth $261,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of EchoStar during the 3rd quarter worth $285,000. Institutional investors own 33.62% of the company’s stock.

Analysts Set New Price Targets

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

EchoStar Trading Up 1.4 %

Shares of NASDAQ:SATS opened at $26.50 on Friday. The business’s 50-day moving average is $27.79 and its 200 day moving average is $25.32. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 1 year low of $12.66 and a 1 year high of $32.48. The firm has a market capitalization of $7.59 billion, a P/E ratio of -2.89 and a beta of 0.65.

EchoStar (NASDAQ:SATS) last posted 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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. On average, research analysts predict that EchoStar Co. will post -1.99 earnings per share for the current fiscal 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.