Columbus Hill Capital Management L.P. Sells 30,000 Shares of EchoStar Co. (NASDAQ:SATS)

Columbus Hill Capital Management L.P. trimmed its holdings in EchoStar Co. (NASDAQ:SATS) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 670,856 shares of the communications equipment provider’s stock after selling 30,000 shares during the period. EchoStar comprises about 2.4% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 19th largest position. Columbus Hill Capital Management L.P.’s holdings in EchoStar were worth $11,948,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 802 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of EchoStar by 183.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,269 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 1,469 shares in the last quarter. Quarry LP purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $41,000. Finally, Quest Partners LLC bought a new stake in EchoStar during the fourth quarter worth $42,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen dropped their price objective on EchoStar from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Morgan Stanley raised their price target on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. StockNews.com raised shares of EchoStar to a “sell” rating in a research report on Tuesday, July 30th. UBS Group increased 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. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EchoStar currently has a consensus rating of “Hold” and a consensus target price of $23.00.

EchoStar Stock Performance

NASDAQ SATS opened at $26.04 on Friday. The company has a market capitalization of $7.07 billion, a PE ratio of -3.38 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.40. EchoStar Co. has a 52-week low of $9.53 and a 52-week high of $27.15. The company has a 50-day simple moving average of $20.11 and a 200 day simple moving average of $17.59.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Friday, August 9th. The communications equipment provider reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.39). EchoStar had a positive return on equity of 0.18% and a negative net margin of 18.65%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts predict that EchoStar Co. will post -1.81 EPS for the current year.

EchoStar 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.