EchoStar Co. (NASDAQ:SATS) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,034 shares of the communications equipment provider’s stock after buying an additional 11,537 shares during the period. Thrivent Financial for Lutherans’ holdings in EchoStar were worth $2,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in EchoStar by 125.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 802 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of 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 purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC grew its position in EchoStar by 183.6% in the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 1,469 shares during the last quarter. Quarry LP acquired a new position in EchoStar in the 4th quarter valued at $41,000. Finally, Nisa Investment Advisors LLC raised its position in EchoStar by 122.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 2,315 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

NASDAQ:SATS opened at $24.09 on Wednesday. EchoStar Co. has a 52-week low of $9.53 and a 52-week high of $30.08. The stock has a fifty day simple moving average of $20.85 and a 200-day simple moving average of $18.13. 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 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). EchoStar had a negative net margin of 18.65% and a positive return on equity of 0.18%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts predict that EchoStar Co. will post -1.81 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SATS. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price target on shares of EchoStar in a report on Monday, August 12th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday. TD Cowen dropped their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, August 12th. UBS Group raised their target price on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley increased their price target on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.