State of New Jersey Common Pension Fund D Buys New Shares in EchoStar Co. (NASDAQ:SATS)

State of New Jersey Common Pension Fund D bought a new stake in EchoStar Co. (NASDAQ:SATS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 102,754 shares of the communications equipment provider’s stock, valued at approximately $1,830,000.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 802 shares during the last quarter. Hexagon Capital Partners LLC increased its position in EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC increased its position in EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares during the last quarter. Quarry LP acquired a new position in EchoStar during the fourth quarter worth approximately $41,000. Finally, Quest Partners LLC acquired a new position in EchoStar during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Trading Up 0.5 %

Shares of SATS stock opened at $26.17 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.32 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.11 billion, a P/E ratio of -3.39 and a beta of 0.70. The stock has a 50 day simple moving average of $20.24 and a 200 day simple moving average of $17.74. EchoStar Co. has a 1 year low of $9.53 and a 1 year high of $27.15.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (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 the consensus estimate of $3.98 billion. EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. On average, research analysts predict that EchoStar Co. will post -1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

EchoStar Company 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.