Bank of New York Mellon Corp Grows Stock Holdings in EchoStar Co. (NASDAQ:SATS)

Bank of New York Mellon Corp boosted its position in EchoStar Co. (NASDAQ:SATS) by 15.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,019,809 shares of the communications equipment provider’s stock after acquiring an additional 133,819 shares during the period. Bank of New York Mellon Corp owned about 0.38% of EchoStar worth $23,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SATS. Captrust Financial Advisors grew its stake in shares of EchoStar by 3.7% during the 3rd quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider’s stock valued at $536,000 after buying an additional 772 shares during the period. Inspire Investing LLC grew its stake in shares of EchoStar by 7.3% during the 4th quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider’s stock valued at $403,000 after buying an additional 1,198 shares during the period. Natixis Advisors LLC grew its stake in shares of EchoStar by 9.8% during the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock valued at $541,000 after buying an additional 1,942 shares during the period. KBC Group NV grew its stake in shares of EchoStar by 65.1% during the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after buying an additional 2,635 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of 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 buying an additional 4,626 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Performance

NASDAQ:SATS opened at $28.14 on Monday. EchoStar Co. has a twelve month low of $12.36 and a twelve month high of $32.48. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -3.07 and a beta of 0.65. The firm’s fifty day simple moving average is $27.23 and its 200 day simple moving average is $24.96.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SATS shares. UBS Group boosted their price objective 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. Morgan Stanley started coverage on shares of EchoStar in a report on Monday, December 16th. They set an “equal weight” rating and a $25.00 target price on the stock. Finally, TD Cowen reduced their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.75.

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.