Menta Capital LLC decreased its position in shares of Echostar Co. (NASDAQ:SATS) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,564 shares of the communications equipment provider’s stock after selling 800 shares during the period. Echostar makes up about 0.5% of Menta Capital LLC’s investment portfolio, making the stock its 25th largest position. Menta Capital LLC’s holdings in Echostar were worth $1,177,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SATS. Ashburton Jersey Ltd bought a new position in Echostar during the second quarter valued at $107,000. Convergence Investment Partners LLC bought a new position in shares of Echostar in the second quarter worth about $116,000. Barings LLC bought a new position in shares of Echostar in the first quarter worth about $230,000. Janney Montgomery Scott LLC bought a new position in shares of Echostar in the second quarter worth about $239,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Echostar in the second quarter worth about $277,000. Institutional investors and hedge funds own 46.63% of the company’s stock.
A number of research firms have recently commented on SATS. BidaskClub cut shares of Echostar from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Daiwa Capital Markets cut shares of Echostar from an “outperform” rating to a “neutral” rating in a report on Friday, May 17th. Raymond James cut their price target on shares of Echostar from $67.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Tuesday, May 21st. Finally, Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $55.00.
Echostar stock traded down $0.27 during midday trading on Tuesday, hitting $40.00. 7,523 shares of the company’s stock were exchanged, compared to its average volume of 554,544. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.94 and a current ratio of 6.10. Echostar Co. has a 12 month low of $33.58 and a 12 month high of $49.93. The firm has a 50-day moving average of $43.17 and a two-hundred day moving average of $41.18. The company has a market cap of $3.87 billion, a PE ratio of 105.76 and a beta of 0.76.
Echostar (NASDAQ:SATS) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.17). Echostar had a positive return on equity of 0.46% and a negative net margin of 4.09%. The business had revenue of $537.12 million for the quarter, compared to the consensus estimate of $538.80 million. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Echostar Co. will post 1.01 earnings per share for the current year.
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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