Cibc World Markets Corp Makes New $261,000 Investment in EchoStar Co. (NASDAQ:SATS)

Cibc World Markets Corp bought a new position in EchoStar Co. (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in EchoStar by 251.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 1,151 shares in the last quarter. KBC Group NV boosted its stake in EchoStar by 65.1% during the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after buying an additional 2,635 shares during the last quarter. Neo Ivy Capital Management purchased a new position in EchoStar during the 3rd quarter valued at approximately $272,000. Proficio Capital Partners LLC bought a new stake in EchoStar in the 4th quarter worth approximately $328,000. Finally, SG Americas Securities LLC raised its holdings in shares of EchoStar by 136.0% during the 4th quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider’s stock worth $359,000 after acquiring an additional 9,042 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

EchoStar stock opened at $26.70 on Wednesday. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of -2.91 and a beta of 0.65. The firm has a 50-day moving average of $28.00 and a two-hundred day moving average of $25.54. EchoStar Co. has a 1 year low of $12.66 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.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $1.87. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. On average, research analysts forecast that EchoStar Co. will post -1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SATS. UBS Group upped their price target on shares of 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 EchoStar in a research report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and a consensus target price of $23.75.

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.