Trivest Advisors Ltd Purchases Shares of 63,800 EchoStar Corporation $SATS

Trivest Advisors Ltd purchased a new stake in EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 63,800 shares of the communications equipment provider’s stock, valued at approximately $6,935,000. EchoStar makes up about 0.3% of Trivest Advisors Ltd’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the business. CoreCap Advisors LLC purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $28,000. Rosenberg Matthew Hamilton purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of EchoStar during the third quarter valued at approximately $38,000. Tucker Asset Management LLC purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $42,000. Finally, BOKF NA increased its position in EchoStar by 300.0% during the fourth quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

SATS opened at $116.28 on Friday. The company has a fifty day simple moving average of $125.72 and a 200 day simple moving average of $112.77. The firm has a market cap of $33.70 billion, a price-to-earnings ratio of -2.32 and a beta of 0.94. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $147.25. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SATS shares. Williams Trading set a $155.00 price target on shares of EchoStar in a research note on Monday, May 18th. UBS Group increased 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 started 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. TD Cowen increased 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.