Moment Partners LLC Makes New Investment in EchoStar Co. (NASDAQ:SATS)

Moment Partners LLC acquired a new stake in EchoStar Co. (NASDAQ:SATS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,422 shares of the communications equipment provider’s stock, valued at approximately $307,000.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in EchoStar by 11.0% during the third quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider’s stock valued at $1,161,000 after acquiring an additional 4,626 shares during the last quarter. Natixis Advisors LLC boosted its position 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 purchasing an additional 1,942 shares in the last quarter. Intech Investment Management LLC acquired a new stake in EchoStar during the third quarter worth approximately $651,000. Citigroup Inc. increased its holdings in EchoStar by 32.7% in the third quarter. Citigroup Inc. now owns 164,534 shares of the communications equipment provider’s stock worth $4,084,000 after purchasing an additional 40,533 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in EchoStar in the third quarter valued at approximately $383,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Trading Down 1.4 %

NASDAQ SATS opened at $26.32 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. EchoStar Co. has a 52 week low of $12.66 and a 52 week high of $32.48. The business has a 50 day moving average price of $28.04 and a 200-day moving average price of $25.55. The company has a market cap of $7.54 billion, a price-to-earnings ratio of -2.87 and a beta of 0.65.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 EPS for the quarter, beating 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. As a group, equities analysts expect that EchoStar Co. will post -1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SATS has been the subject of several recent analyst reports. Morgan Stanley started coverage on shares of EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price objective for the company. UBS Group raised their price target on shares of EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and a consensus target price 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.