Two Seas Capital LP Purchases 109,665 Shares of EchoStar Corporation $SATS

Two Seas Capital LP boosted its position in EchoStar Corporation (NASDAQ:SATS) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,135 shares of the communications equipment provider’s stock after purchasing an additional 109,665 shares during the quarter. EchoStar makes up 0.9% of Two Seas Capital LP’s portfolio, making the stock its 14th biggest position. Two Seas Capital LP’s holdings in EchoStar were worth $43,712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. HB Wealth Management LLC grew its stake in shares of EchoStar by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 4,933 shares of the communications equipment provider’s stock worth $536,000 after acquiring an additional 98 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of EchoStar by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the communications equipment provider’s stock worth $611,000 after acquiring an additional 114 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of EchoStar by 8.1% in the fourth quarter. Fifth Third Bancorp now owns 1,800 shares of the communications equipment provider’s stock worth $196,000 after acquiring an additional 135 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of EchoStar by 0.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the communications equipment provider’s stock worth $3,274,000 after acquiring an additional 144 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of EchoStar in the fourth quarter worth $28,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SATS. UBS Group increased their target price on 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 began coverage on EchoStar in a research note on Wednesday, May 13th. They issued a “buy” rating and a $161.00 target price on the stock. Williams Trading set a $155.00 target price on EchoStar in a research note on Monday, May 18th. Zacks Research cut EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, TD Cowen increased their target price on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Four investment 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.14.

EchoStar Price Performance

NASDAQ SATS opened at $116.28 on Friday. EchoStar Corporation has a one year low of $14.90 and a one year high of $147.25. The stock has a 50-day moving average of $125.72 and a 200 day moving average of $112.77. The company has a market capitalization of $33.70 billion, a price-to-earnings ratio of -2.32 and a beta of 0.94. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.

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

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.