Quantedge Capital Pte Ltd Purchases Shares of 12,400 EchoStar Co. (NASDAQ:SATS)

Quantedge Capital Pte Ltd purchased a new stake in shares of EchoStar Co. (NASDAQ:SATS) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,400 shares of the communications equipment provider’s stock, valued at approximately $284,000.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of EchoStar by 251.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 1,151 shares during the last quarter. Quarry LP raised its position in shares of EchoStar by 8,906.7% in the 4th quarter. Quarry LP now owns 4,053 shares of the communications equipment provider’s stock valued at $93,000 after purchasing an additional 4,008 shares during the last quarter. Covestor Ltd raised its position in shares of EchoStar by 189.1% in the 4th quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 3,137 shares during the last quarter. KBC Group NV raised its position in shares of EchoStar by 65.1% in the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock valued at $153,000 after purchasing an additional 2,635 shares during the last quarter. Finally, Xponance Inc. raised its position in shares of EchoStar by 8.7% in the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock valued at $201,000 after purchasing an additional 701 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Performance

Shares of EchoStar stock opened at $22.78 on Thursday. The firm has a market capitalization of $6.53 billion, a P/E ratio of -2.49 and a beta of 0.83. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The company has a 50 day moving average price of $23.75 and a 200 day moving average price of $25.02. EchoStar Co. has a 52 week low of $14.79 and a 52 week high of $32.48.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.19. EchoStar had a negative net margin of 15.51% and a negative return on equity of 0.64%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the firm posted ($0.40) EPS. EchoStar’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that EchoStar Co. will post -1.99 EPS for the current year.

About EchoStar

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.