EchoStar Co. (NASDAQ:SATS) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of EchoStar Co. (NASDAQ:SATS) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 374,537 shares of the communications equipment provider’s stock after selling 2,814 shares during the period. Rhumbline Advisers owned about 0.14% of EchoStar worth $8,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SATS. Captrust Financial Advisors lifted its holdings in EchoStar by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider’s stock worth $536,000 after buying an additional 772 shares in the last quarter. Inspire Investing LLC increased its position in shares of EchoStar by 7.3% during the fourth quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider’s stock worth $403,000 after acquiring an additional 1,198 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of EchoStar by 9.8% in the third quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock worth $541,000 after acquiring an additional 1,942 shares in the last quarter. KBC Group NV boosted its holdings in EchoStar by 65.1% in the fourth quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after purchasing an additional 2,635 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in EchoStar by 11.0% during the 3rd quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider’s stock valued at $1,161,000 after purchasing an additional 4,626 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

EchoStar Stock Down 1.9 %

Shares of NASDAQ:SATS opened at $29.00 on Tuesday. The company’s fifty day moving average is $25.97 and its two-hundred day moving average is $24.18. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar Co. has a 1-year low of $11.83 and a 1-year high of $30.55. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of -3.17 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SATS shares. StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday, November 9th. Morgan Stanley started coverage on shares of EchoStar in a report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 price target on the stock. TD Cowen decreased their price objective on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, UBS Group upped their target price on shares of EchoStar from $15.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, EchoStar presently has an average rating of “Hold” and an average target price 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.