Choreo LLC Takes $186,000 Position in EchoStar Co. (NASDAQ:SATS)

Choreo LLC purchased a new stake in EchoStar Co. (NASDAQ:SATS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,486 shares of the communications equipment provider’s stock, valued at approximately $186,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after acquiring an additional 9,661,167 shares during the period. Goldentree Asset Management LP boosted its position in shares of EchoStar by 20.4% in the 1st quarter. Goldentree Asset Management LP now owns 2,505,475 shares of the communications equipment provider’s stock worth $35,703,000 after purchasing an additional 424,259 shares during the last quarter. Pennant Select LLC acquired a new stake in shares of EchoStar during the fourth quarter worth $36,892,000. Pennant Investors LP bought a new stake in EchoStar in the fourth quarter valued at about $35,679,000. Finally, Monarch Alternative Capital LP bought a new stake in EchoStar in the first quarter valued at about $21,375,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SATS has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. TD Cowen lowered their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. Finally, UBS Group boosted their price target on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EchoStar has an average rating of “Hold” and a consensus target price of $23.00.

EchoStar Stock Performance

Shares of SATS opened at $26.04 on Friday. The firm has a market cap of $7.07 billion, a P/E ratio of -3.38 and a beta of 0.70. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $27.15. 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 firm’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $17.59.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The company’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, analysts forecast 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.