Inspire Investing LLC Lowers Stock Holdings in EchoStar Co. (NASDAQ:SATS)

Inspire Investing LLC lessened its stake in shares of EchoStar Co. (NASDAQ:SATS) by 21.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,898 shares of the communications equipment provider’s stock after selling 5,397 shares during the quarter. Inspire Investing LLC’s holdings in EchoStar were worth $354,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SATS. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 802 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in EchoStar by 1.8% in the 2nd 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 in the last quarter. Hexagon Capital Partners LLC increased its position in EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of EchoStar by 183.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 1,469 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 2,315 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on SATS shares. TD Cowen cut their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. UBS Group boosted their price objective on shares of EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 price target on shares of EchoStar in a research note on Monday, August 12th. Finally, Morgan Stanley raised their price objective on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average target price of $23.00.

EchoStar Trading Up 0.5 %

Shares of SATS opened at $26.04 on Monday. 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 1-year low of $9.53 and a 1-year high of $27.15. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -3.38 and a beta of 0.70. The firm has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $17.65.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.98 billion. During the same period in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was down 9.3% on a year-over-year basis. Equities analysts forecast that EchoStar Co. will post -1.81 EPS for the current fiscal year.

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.