Creative Planning Raises Stock Position in EchoStar Co. (NASDAQ:SATS)

Creative Planning boosted its position in shares of EchoStar Co. (NASDAQ:SATS) by 42.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 35,395 shares of the communications equipment provider’s stock after purchasing an additional 10,491 shares during the period. Creative Planning’s holdings in EchoStar were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in EchoStar by 54.7% during the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock valued at $55,000 after acquiring an additional 789 shares in the last quarter. Handelsbanken Fonder AB lifted its position in EchoStar by 71.4% during the third quarter. Handelsbanken Fonder AB now owns 35,542 shares of the communications equipment provider’s stock valued at $882,000 after purchasing an additional 14,800 shares during the last quarter. SG Americas Securities LLC bought a new stake in EchoStar during the third quarter valued at approximately $165,000. Gordian Capital Singapore Pte Ltd bought a new stake in EchoStar during the second quarter valued at approximately $89,000. Finally, Algert Global LLC lifted its position in EchoStar by 430.1% during the second quarter. Algert Global LLC now owns 86,147 shares of the communications equipment provider’s stock valued at $1,534,000 after purchasing an additional 69,897 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Trading Down 1.5 %

Shares of SATS opened at $24.68 on Friday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -2.87 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. EchoStar Co. has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The firm has a 50 day moving average price of $23.73 and a 200-day moving average price of $19.88.

EchoStar (NASDAQ:SATS) last posted 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 negative net margin of 18.65% and a positive return on equity of 0.18%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities research analysts forecast that EchoStar Co. will post -1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. UBS Group lifted their target price on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research report on Tuesday, July 30th. TD Cowen dropped their target price on shares of EchoStar from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average target price of $24.20.

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.