Eagle Bay Advisors LLC Grows Stake in EchoStar Co. (NASDAQ:SATS)

Eagle Bay Advisors LLC raised its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 183.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,269 shares of the communications equipment provider’s stock after buying an additional 1,469 shares during the period. Eagle Bay Advisors LLC’s holdings in EchoStar were worth $32,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of EchoStar by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,465,583 shares of the communications equipment provider’s stock valued at $58,049,000 after acquiring an additional 33,451 shares in the last quarter. Pennant Select LLC bought a new stake in shares of EchoStar during the fourth quarter valued at approximately $36,892,000. Pennant Investors LP bought a new stake in shares of EchoStar during the fourth quarter valued at approximately $35,679,000. Charles Schwab Investment Management Inc. raised its stake in shares of EchoStar by 53.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,095,327 shares of the communications equipment provider’s stock valued at $18,150,000 after acquiring an additional 383,030 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of EchoStar by 4,541.5% during the fourth quarter. Principal Financial Group Inc. now owns 639,094 shares of the communications equipment provider’s stock valued at $10,590,000 after acquiring an additional 625,325 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Trading Down 0.1 %

Shares of SATS traded down $0.03 during mid-day trading on Thursday, hitting $20.30. 303,513 shares of the company were exchanged, compared to its average volume of 1,907,034. EchoStar Co. has a 1-year low of $9.53 and a 1-year high of $24.80. The company has a quick ratio of 0.35, a current ratio of 0.44 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average of $18.10 and a 200-day moving average of $15.63.

EchoStar (NASDAQ:SATS) last released its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.23). EchoStar had a negative net margin of 23.47% and a positive return on equity of 2.26%. The business had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The firm’s revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that EchoStar Co. will post -1.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SATS shares. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Tuesday, July 2nd. Morgan Stanley reduced their price objective on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, EchoStar has an average rating of “Hold” and a consensus target price of $23.00.

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.