Two Seas Capital LP Raises Stock Holdings in EchoStar Corporation $SATS

Two Seas Capital LP lifted its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 37.5% in the 4th quarter, according to its most recent Form 13F filing 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 accounts for approximately 0.9% of Two Seas Capital LP’s portfolio, making the stock its 14th largest position. Two Seas Capital LP owned about 0.14% of EchoStar worth $43,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of EchoStar during the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton purchased a new position in shares of EchoStar during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of EchoStar during the third quarter worth about $38,000. Tucker Asset Management LLC purchased a new position in shares of EchoStar during the fourth quarter worth about $42,000. Finally, BOKF NA grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

Shares of SATS stock opened at $116.28 on Friday. 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 Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $147.25. The stock has a 50 day moving average price of $125.72 and a two-hundred day moving average price of $112.77. The company 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 announced its earnings results 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 for the quarter, compared to the consensus estimate 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 company earned ($0.71) EPS. Analysts expect that EchoStar Corporation will post -3.79 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. New Street Research initiated coverage on EchoStar in a report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. TD Cowen upped 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. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.