Columbus Hill Capital Management L.P. Has $11.95 Million Position in EchoStar Co. (NASDAQ:SATS)

Columbus Hill Capital Management L.P. cut its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 670,856 shares of the communications equipment provider’s stock after selling 30,000 shares during the period. EchoStar comprises approximately 2.4% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 19th largest position. Columbus Hill Capital Management L.P. owned 0.25% of EchoStar worth $11,948,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its holdings in shares of EchoStar by 263.3% during the first quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock worth $1,502,000 after purchasing an additional 76,407 shares during the period. UniSuper Management Pty Ltd acquired a new position in EchoStar during the 1st quarter worth about $398,000. P Schoenfeld Asset Management LP acquired a new position in EchoStar during the 4th quarter worth about $3,782,000. Vanguard Group Inc. grew its position in shares of EchoStar by 238.7% in the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after buying an additional 9,661,167 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of EchoStar in the first quarter valued at about $511,000. 33.62% of the stock is owned by institutional investors.

EchoStar Stock Up 0.5 %

EchoStar stock opened at $26.04 on Friday. The company has a market capitalization of $7.07 billion, a PE ratio of -3.38 and a beta of 0.70. EchoStar Co. has a 12-month low of $9.53 and a 12-month high of $27.15. The firm’s fifty day moving average is $20.11 and its 200 day moving average is $17.59. The company has a quick ratio of 0.32, a current ratio of 0.40 and a debt-to-equity ratio of 1.00.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the prior year, the company posted $0.39 EPS. EchoStar’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, sell-side analysts predict that EchoStar Co. will post -1.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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