American Century Companies Inc. Has $39.96 Million Stock Holdings in EchoStar Co. (NASDAQ:SATS)

American Century Companies Inc. increased its position in shares of EchoStar Co. (NASDAQ:SATS) by 51.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,243,761 shares of the communications equipment provider’s stock after acquiring an additional 762,462 shares during the quarter. American Century Companies Inc. owned about 0.83% of EchoStar worth $39,961,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SATS. GAMMA Investing LLC increased its holdings in EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 1,469 shares during the last quarter. Quarry LP bought a new stake in EchoStar in the fourth quarter valued at about $41,000. Finally, Quest Partners LLC bought a new stake in EchoStar in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Down 2.0 %

NASDAQ:SATS opened at $25.91 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. The company has a market cap of $7.04 billion, a PE ratio of -3.43 and a beta of 0.70. EchoStar Co. has a 52-week low of $9.53 and a 52-week high of $27.15. The stock has a 50-day simple moving average of $19.53 and a 200 day simple moving average of $17.30.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, sell-side analysts expect that EchoStar Co. will post -1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

SATS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued 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. UBS Group increased their price target on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen lowered their price target on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Morgan Stanley increased their price target on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

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.