EchoStar Corporation $SATS Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in EchoStar Corporation (NASDAQ:SATS) by 1,625.9% during the fourth quarter, HoldingsChannel reports. The firm owned 48,670 shares of the communications equipment provider’s stock after buying an additional 45,850 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in EchoStar were worth $5,290,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Bellwether Advisors LLC acquired a new position in EchoStar in the fourth quarter valued at $3,593,000. Junto Capital Management LP acquired a new position in EchoStar in the third quarter valued at $55,199,000. Seven Grand Managers LLC acquired a new position in EchoStar in the fourth quarter valued at $21,740,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in EchoStar in the fourth quarter valued at $28,994,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in EchoStar in the fourth quarter valued at $20,459,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Trading Up 3.1%

Shares of EchoStar stock opened at $124.64 on Friday. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $147.25. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The company’s 50-day simple moving average is $125.78 and its 200-day simple moving average is $112.75. The firm has a market cap of $36.12 billion, a price-to-earnings ratio of -2.49 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 analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm earned ($0.71) earnings per share. As a group, equities research analysts anticipate that EchoStar Corporation will post -3.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on SATS shares. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group boosted their price target on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. New Street Research assumed coverage on shares of EchoStar in a research note on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target on the stock. Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, TD Cowen boosted their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Four 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. According to data from MarketBeat, EchoStar presently has an average rating of “Hold” and a consensus target price of $137.14.

About EchoStar

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.