Mutual of America Capital Management LLC Reduces Position in EchoStar Co. (NASDAQ:SATS)

Mutual of America Capital Management LLC lessened its stake in shares of EchoStar Co. (NASDAQ:SATS) by 86.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,056 shares of the communications equipment provider’s stock after selling 133,741 shares during the period. Mutual of America Capital Management LLC’s holdings in EchoStar were worth $349,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in EchoStar during the 4th quarter worth approximately $126,000. Quantbot Technologies LP lifted its stake in EchoStar by 150.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,439 shares of the communications equipment provider’s stock valued at $158,000 after acquiring an additional 5,666 shares during the period. Principal Financial Group Inc. acquired a new stake in EchoStar during the 3rd quarter valued at approximately $231,000. Strs Ohio acquired a new stake in EchoStar during the 3rd quarter valued at approximately $247,000. Finally, PEAK6 Investments LLC acquired a new stake in EchoStar during the 3rd quarter valued at approximately $270,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

SATS opened at $15.30 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.61 and a quick ratio of 0.53. The firm has a fifty day moving average price of $13.68 and a 200 day moving average price of $13.45. EchoStar Co. has a 1 year low of $9.53 and a 1 year high of $24.80. The stock has a market cap of $4.15 billion, a P/E ratio of -2.20 and a beta of 0.69.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $1.19. The company had revenue of $4.16 billion during the quarter. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The business’s revenue was up 732.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities research analysts anticipate that EchoStar Co. will post -1.28 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SATS. UBS Group lifted their price objective on shares of EchoStar from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. began coverage on shares of EchoStar in a research note on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price objective for the company. Morgan Stanley decreased their price objective on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. StockNews.com started coverage on shares of EchoStar in a research note on Saturday, April 13th. They issued a “sell” rating for the company. Finally, TD Cowen decreased their target price on shares of EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and an average price target of $23.00.

Insiders Place Their Bets

In related news, Director James Defranco acquired 110,000 shares of EchoStar stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $13.48 per share, for a total transaction of $1,482,800.00. Following the completion of the transaction, the director now owns 306,951 shares of the company’s stock, valued at approximately $4,137,699.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 55.90% of the stock is currently owned by company insiders.

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.