Trivest Advisors Ltd Takes Position in EchoStar Corporation $SATS

Trivest Advisors Ltd purchased a new stake in EchoStar Corporation (NASDAQ:SATS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 63,800 shares of the communications equipment provider’s stock, valued at approximately $6,935,000. EchoStar accounts for approximately 0.3% of Trivest Advisors Ltd’s holdings, making the stock its 22nd largest position.

Other hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in EchoStar by 2.0% in the 4th quarter. HB Wealth Management LLC now owns 4,933 shares of the communications equipment provider’s stock valued at $536,000 after buying an additional 98 shares during the period. PNC Financial Services Group Inc. boosted its position in EchoStar by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the communications equipment provider’s stock valued at $611,000 after buying an additional 114 shares during the period. Fifth Third Bancorp boosted its position in EchoStar by 8.1% in the 4th quarter. Fifth Third Bancorp now owns 1,800 shares of the communications equipment provider’s stock valued at $196,000 after buying an additional 135 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in EchoStar by 0.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the communications equipment provider’s stock valued at $3,274,000 after buying an additional 144 shares during the period. Finally, CoreCap Advisors LLC purchased a new position in EchoStar in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $116.28 on Friday. The company’s fifty day moving average price is $125.72 and its 200 day moving average price is $112.77. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $147.25. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The firm has a market capitalization of $33.70 billion, a P/E ratio of -2.32 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same quarter in the prior year, the firm posted ($0.71) earnings per share. As a group, sell-side analysts predict that EchoStar Corporation will post -3.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented 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. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Williams Trading set a $155.00 price objective on shares of EchoStar in a report on Monday, May 18th. TD Cowen raised their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, New Street Research assumed coverage on shares of EchoStar in a report on Wednesday, May 13th. They issued a “buy” rating and a $161.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.