State of New Jersey Common Pension Fund D Has $2.48 Million Stock Holdings in EchoStar Co. (NASDAQ:SATS)

State of New Jersey Common Pension Fund D decreased its position in shares of EchoStar Co. (NASDAQ:SATS) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,777 shares of the communications equipment provider’s stock after selling 2,977 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EchoStar were worth $2,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of EchoStar by 238.7% during the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after purchasing an additional 9,661,167 shares in the last quarter. Darsana Capital Partners LP bought a new position in EchoStar during the second quarter valued at approximately $36,908,000. Monarch Alternative Capital LP acquired a new stake in EchoStar in the first quarter valued at approximately $21,375,000. American Century Companies Inc. grew its position in EchoStar by 51.5% in the second quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock worth $39,961,000 after acquiring an additional 762,462 shares in the last quarter. Finally, Apollo Management Holdings L.P. bought a new stake in EchoStar in the first quarter worth approximately $10,507,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen reduced their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley increased their price objective on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. StockNews.com upgraded EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.25.

EchoStar Price Performance

NASDAQ SATS opened at $21.52 on Thursday. The stock has a market capitalization of $5.85 billion, a PE ratio of -2.35 and a beta of 0.70. The stock has a 50-day simple moving average of $24.79 and a 200 day simple moving average of $20.53. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.32 and a current ratio of 0.67. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $30.08.

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.