DRW Securities LLC Takes $266,000 Position in EchoStar Corporation $SATS

DRW Securities LLC acquired a new stake in EchoStar Corporation (NASDAQ:SATS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,400 shares of the communications equipment provider’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp grew its stake in EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 567 shares in the last quarter. Farther Finance Advisors LLC grew its stake in EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 975 shares in the last quarter. GAMMA Investing LLC grew its stake in EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 976 shares in the last quarter. State of Wyoming acquired a new position in EchoStar during the 4th quarter worth $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in EchoStar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,283 shares of the communications equipment provider’s stock worth $1,587,000 after purchasing an additional 2,712 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Stock Up 8.5%

EchoStar stock opened at $61.79 on Tuesday. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $61.87. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $17.78 billion, a P/E ratio of -58.85 and a beta of 0.98. The stock has a 50-day simple moving average of $31.75 and a 200-day simple moving average of $26.53.

EchoStar (NASDAQ:SATS) last posted its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.06. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the previous year, the business earned ($0.76) EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that EchoStar Corporation will post -1.99 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on SATS. Deutsche Bank Aktiengesellschaft upped their price objective on EchoStar from $43.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Citigroup reaffirmed a “neutral” rating on shares of EchoStar in a research report on Friday. Cowen reaffirmed a “buy” rating on shares of EchoStar in a research report on Wednesday, August 27th. TD Cowen upped their price objective on EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Finally, Morgan Stanley upped their price objective on EchoStar from $25.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, EchoStar presently has a consensus rating of “Hold” and a consensus price target of $49.90.

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.