Hussman Strategic Advisors Inc. Acquires 21,000 Shares of EchoStar Corporation (NASDAQ:SATS)

Hussman Strategic Advisors Inc. lifted its holdings in EchoStar Corporation (NASDAQ:SATS) by 20.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 126,000 shares of the communications equipment provider’s stock after acquiring an additional 21,000 shares during the quarter. EchoStar accounts for about 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 21st biggest holding. Hussman Strategic Advisors Inc.’s holdings in EchoStar were worth $3,223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SATS. Farther Finance Advisors LLC lifted its holdings in shares of EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 975 shares during the last quarter. State of Wyoming bought a new stake in shares of EchoStar in the 4th quarter worth approximately $47,000. Fifth Third Bancorp lifted its holdings in shares of EchoStar by 44.5% in the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after acquiring an additional 567 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after acquiring an additional 976 shares during the last quarter. Finally, Quarry LP raised its holdings in EchoStar by 8,906.7% during the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider’s stock valued at $93,000 after buying an additional 4,008 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Trading Down 0.6%

NASDAQ SATS traded down $0.18 during trading on Friday, hitting $28.76. The company had a trading volume of 193,670 shares, compared to its average volume of 2,954,651. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 1.26. EchoStar Corporation has a one year low of $14.79 and a one year high of $33.03. The company has a market cap of $8.26 billion, a price-to-earnings ratio of -38.34 and a beta of 0.90. The company’s fifty day moving average is $23.71 and its 200-day moving average is $25.00.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19. EchoStar had a negative net margin of 1.37% and a negative return on equity of 1.08%. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the business earned ($0.40) EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts predict that EchoStar Corporation will post -1.99 earnings per share for the current year.

Analyst Ratings Changes

Separately, Citigroup upped their price target on shares of EchoStar from $27.00 to $28.50 and gave the company a “neutral” rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.70.

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.