Algert Global LLC Raises Holdings in EchoStar Co. (NASDAQ:SATS)

Algert Global LLC grew its holdings in EchoStar Co. (NASDAQ:SATS) by 430.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,147 shares of the communications equipment provider’s stock after purchasing an additional 69,897 shares during the period. Algert Global LLC’s holdings in EchoStar were worth $1,534,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. P Schoenfeld Asset Management LP bought a new stake in EchoStar during the fourth quarter valued at approximately $3,782,000. Pennant Select LLC purchased a new stake in shares of EchoStar in the 4th quarter worth $36,892,000. Pennant Investors LP bought a new position in EchoStar in the 4th quarter worth $35,679,000. Clear Street Markets LLC purchased a new position in EchoStar during the fourth quarter valued at $198,000. Finally, Quarry LP bought a new stake in EchoStar during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SATS. UBS Group raised their price objective on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. TD Cowen dropped their price target on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lifted their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.00.

EchoStar Price Performance

SATS stock opened at $23.67 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The company’s fifty day moving average price is $21.03 and its 200-day moving average price is $18.25. EchoStar Co. has a one year low of $9.53 and a one year high of $30.08. The company has a market capitalization of $6.43 billion, a PE ratio of -3.08 and a beta of 0.70.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.39). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. During the same quarter in the previous year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, equities analysts anticipate that EchoStar Co. will post -1.81 EPS 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.