Beaconlight Capital LLC bought a new position in shares of Echostar Co. (NASDAQ:SATS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 147,301 shares of the communications equipment provider’s stock, valued at approximately $5,408,000. Echostar accounts for about 1.9% of Beaconlight Capital LLC’s investment portfolio, making the stock its 15th largest holding. Beaconlight Capital LLC owned approximately 0.15% of Echostar at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SATS. Vanguard Group Inc raised its stake in shares of Echostar by 24.1% in the 3rd quarter. Vanguard Group Inc now owns 4,213,613 shares of the communications equipment provider’s stock valued at $195,386,000 after acquiring an additional 817,044 shares during the period. Vanguard Group Inc. increased its stake in Echostar by 24.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,213,613 shares of the communications equipment provider’s stock worth $195,386,000 after buying an additional 817,044 shares during the period. Rubric Capital Management LP purchased a new stake in Echostar during the 3rd quarter worth approximately $14,375,000. Dimensional Fund Advisors LP increased its stake in Echostar by 10.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,447,636 shares of the communications equipment provider’s stock worth $53,157,000 after buying an additional 137,693 shares during the period. Finally, Mackay Shields LLC increased its stake in Echostar by 562.9% during the 4th quarter. Mackay Shields LLC now owns 154,409 shares of the communications equipment provider’s stock worth $5,670,000 after buying an additional 131,116 shares during the period. 46.24% of the stock is currently owned by institutional investors.

NASDAQ SATS opened at $37.17 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.66 and a debt-to-equity ratio of 0.62. Echostar Co. has a 52 week low of $33.58 and a 52 week high of $58.35. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 97.82 and a beta of 0.94.

Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, February 21st. The communications equipment provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Echostar had a positive return on equity of 0.89% and a negative net margin of 1.91%. The firm had revenue of $530.70 million for the quarter, compared to analyst estimates of $546.55 million. During the same quarter last year, the firm earned $0.10 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Echostar Co. will post 0.55 EPS for the current fiscal year.

SATS has been the topic of several recent research reports. Citigroup cut their target price on shares of Echostar from $72.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, December 17th. Zacks Investment Research raised shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Saturday, January 19th. Finally, BidaskClub raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Echostar has a consensus rating of “Hold” and an average target price of $52.50.

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Echostar Profile

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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Institutional Ownership by Quarter for Echostar (NASDAQ:SATS)

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