EchoStar Co. (NASDAQ:SATS) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,635 shares of the communications equipment provider’s stock after selling 13,142 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in EchoStar were worth $1,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KBC Group NV grew its stake in EchoStar by 65.1% during the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after acquiring an additional 2,635 shares in the last quarter. Neo Ivy Capital Management purchased a new position in EchoStar during the 3rd quarter valued at about $272,000. GSA Capital Partners LLP purchased a new position in EchoStar during the 3rd quarter valued at about $285,000. Quantbot Technologies LP purchased a new position in EchoStar during the 3rd quarter valued at about $383,000. Finally, SG Americas Securities LLC grew its stake in EchoStar by 136.0% during the 4th quarter. SG Americas Securities LLC now owns 15,689 shares of the communications equipment provider’s stock valued at $359,000 after acquiring an additional 9,042 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Down 2.0 %

SATS opened at $29.57 on Monday. The business has a 50 day moving average price of $25.86 and a 200 day moving average price of $24.12. EchoStar Co. has a twelve month low of $11.83 and a twelve month high of $30.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The firm has a market cap of $8.04 billion, a P/E ratio of -3.23 and a beta of 0.72.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen lowered their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. UBS Group boosted their price target on EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Morgan Stanley initiated coverage on EchoStar in a research note on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.75.

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.