BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in EchoStar Corporation $SATS

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of EchoStar Corporation (NASDAQ:SATS) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,631 shares of the communications equipment provider’s stock after buying an additional 23,628 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in EchoStar were worth $11,482,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Advisors LLC purchased a new stake in EchoStar during the 4th quarter valued at $3,593,000. Junto Capital Management LP purchased a new stake in EchoStar during the 3rd quarter valued at $55,199,000. Seven Grand Managers LLC purchased a new stake in EchoStar during the 4th quarter valued at $21,740,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in EchoStar during the 4th quarter valued at $28,994,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in EchoStar during the 4th quarter valued at $20,459,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Trading Down 6.7%

NASDAQ:SATS opened at $116.28 on Friday. The company has a 50-day moving average price of $125.72 and a 200-day moving average price of $112.77. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $147.25. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of -2.32 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.During the same quarter in the previous year, the business earned ($0.71) earnings per share. Equities analysts predict that EchoStar Corporation will post -3.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SATS shares. Zacks Research cut shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. New Street Research started coverage on shares of EchoStar in a research report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Williams Trading set a $155.00 price target on shares of EchoStar in a research report on Monday, May 18th. Finally, Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and a consensus price target of $137.14.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.