Victory Capital Management Inc. Sells 1,939 Shares of EchoStar Co. (NASDAQ:SATS)

Victory Capital Management Inc. cut its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,828 shares of the communications equipment provider’s stock after selling 1,939 shares during the quarter. Victory Capital Management Inc.’s holdings in EchoStar were worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SATS. Darsana Capital Partners LP raised its holdings in EchoStar by 44.8% during the third quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock valued at $74,460,000 after acquiring an additional 927,695 shares during the period. Stonehill Capital Management LLC bought a new stake in shares of EchoStar in the third quarter worth about $9,235,000. Bank of New York Mellon Corp increased its holdings in shares of EchoStar by 15.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,019,809 shares of the communications equipment provider’s stock worth $23,354,000 after purchasing an additional 133,819 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of EchoStar in the fourth quarter worth about $2,404,000. Finally, Van ECK Associates Corp increased its holdings in shares of EchoStar by 309.6% in the fourth quarter. Van ECK Associates Corp now owns 133,108 shares of the communications equipment provider’s stock worth $3,048,000 after purchasing an additional 100,608 shares during the last quarter. 33.62% of the stock is owned by institutional investors.

EchoStar Trading Up 1.4 %

Shares of NASDAQ SATS opened at $26.50 on Friday. The business’s 50 day moving average is $27.79 and its two-hundred day moving average is $25.32. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 1-year low of $12.66 and a 1-year high of $32.48. The stock has a market capitalization of $7.59 billion, a P/E ratio of -2.89 and a beta of 0.65.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Thursday, February 27th. The communications equipment provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. As a group, research analysts expect that EchoStar Co. will post -1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SATS. UBS Group lifted their target price on EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Morgan Stanley began coverage on EchoStar in a report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and an average price target of $23.75.

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.