Charles Schwab Investment Management Inc. Acquires 22,551 Shares of EchoStar Co. (NASDAQ:SATS)

Charles Schwab Investment Management Inc. increased its holdings in EchoStar Co. (NASDAQ:SATS) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,614 shares of the communications equipment provider’s stock after purchasing an additional 22,551 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in EchoStar were worth $8,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Banque Cantonale Vaudoise boosted its position in EchoStar by 67.7% during the 4th quarter. Banque Cantonale Vaudoise now owns 1,454 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 587 shares in the last quarter. Advisory Services Network LLC raised its holdings in EchoStar by 2,012.1% in the 4th quarter. Advisory Services Network LLC now owns 2,450 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 2,334 shares during the last quarter. Van ECK Associates Corp raised its holdings in EchoStar by 18.7% in the 3rd quarter. Van ECK Associates Corp now owns 3,680 shares of the communications equipment provider’s stock worth $92,000 after acquiring an additional 581 shares during the last quarter. Toronto Dominion Bank purchased a new position in EchoStar in the 4th quarter worth approximately $180,000. Finally, Golden State Equity Partners purchased a new position in EchoStar in the 4th quarter worth approximately $211,000. 42.53% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on SATS. Citigroup decreased their price objective on shares of EchoStar from $30.00 to $27.00 in a report on Monday, January 25th. Raymond James decreased their target price on shares of EchoStar from $57.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 3rd.

Shares of SATS opened at $24.53 on Thursday. EchoStar Co. has a 1-year low of $19.75 and a 1-year high of $35.33. The firm has a fifty day simple moving average of $25.04 and a two-hundred day simple moving average of $23.92. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.41. The firm has a market cap of $2.30 billion, a PE ratio of -25.29 and a beta of 0.69.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Monday, February 22nd. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. EchoStar had a negative net margin of 5.10% and a negative return on equity of 2.47%. The firm had revenue of $489.30 million during the quarter, compared to the consensus estimate of $481.00 million. During the same quarter in the previous year, the firm posted ($0.55) EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, research analysts forecast that EchoStar Co. will post -0.41 EPS for the current fiscal year.

In other EchoStar news, insider Anders N. Johnson acquired 20,000 shares of the business’s stock in a transaction dated Thursday, February 25th. The stock was purchased at an average price of $23.45 per share, with a total value of $469,000.00. Following the transaction, the insider now directly owns 22,000 shares in the company, valued at approximately $515,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 51.80% of the company’s stock.

About EchoStar

EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services (ESS). The Hughes segment provides broadband satellite technologies and broadband internet services to domestic and international consumer customers and broadband network technologies, managed services, equipment, hardware, satellite services and communication solutions to service providers and enterprise customers.

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Institutional Ownership by Quarter for EchoStar (NASDAQ:SATS)

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