Victory Capital Management Inc. Acquires 17,053 Shares of EchoStar Co. (NASDAQ:SATS)

Victory Capital Management Inc. grew its holdings in EchoStar Co. (NASDAQ:SATS) by 68.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,141 shares of the communications equipment provider’s stock after purchasing an additional 17,053 shares during the period. Victory Capital Management Inc.’s holdings in EchoStar were worth $751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of 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 period. Louisiana State Employees Retirement System raised its position in shares of EchoStar by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock valued at $1,081,000 after purchasing an additional 1,100 shares during the period. Hexagon Capital Partners LLC raised its position in shares of 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 period. Eagle Bay Advisors LLC grew its stake in EchoStar by 183.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in EchoStar by 122.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 2,315 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

SATS stock opened at $26.04 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.40 and a quick ratio of 0.32. EchoStar Co. has a one year low of $9.53 and a one year high of $27.15. The stock has a market cap of $7.07 billion, a PE ratio of -3.38 and a beta of 0.70. The firm has a 50 day simple moving average of $20.11 and a two-hundred day simple moving average of $17.63.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.39). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the prior year, the firm earned $0.39 EPS. EchoStar’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts predict that EchoStar Co. will post -1.81 EPS for the current fiscal year.

Analysts Set New Price Targets

SATS has been the subject of several recent analyst reports. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Tuesday, July 30th. UBS Group boosted their price objective on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. TD Cowen reduced their price objective on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.