Occudo Quantitative Strategies LP Acquires Shares of 9,423 EchoStar Co. (NASDAQ:SATS)

Occudo Quantitative Strategies LP acquired a new stake in shares of EchoStar Co. (NASDAQ:SATS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,423 shares of the communications equipment provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. raised its holdings in shares of EchoStar by 8.7% in the fourth quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock worth $201,000 after buying an additional 701 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of EchoStar by 2.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 47,604 shares of the communications equipment provider’s stock worth $1,090,000 after buying an additional 941 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of EchoStar by 251.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock worth $37,000 after buying an additional 1,151 shares during the period. Inspire Investing LLC raised its holdings in shares of EchoStar by 7.3% in the fourth quarter. Inspire Investing LLC now owns 17,599 shares of the communications equipment provider’s stock worth $403,000 after buying an additional 1,198 shares during the period. Finally, Swiss National Bank grew its stake in EchoStar by 0.8% in the fourth quarter. Swiss National Bank now owns 248,425 shares of the communications equipment provider’s stock worth $5,689,000 after purchasing an additional 2,000 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

EchoStar Stock Up 2.1%

Shares of NASDAQ:SATS opened at $23.39 on Friday. EchoStar Co. has a 52-week low of $14.79 and a 52-week high of $32.48. The stock has a market cap of $6.70 billion, a P/E ratio of -2.55 and a beta of 0.83. The business’s 50 day moving average is $23.65 and its 200 day moving average is $24.99. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Friday, May 9th. The communications equipment provider reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.19. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. EchoStar’s revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict 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.