Quantbot Technologies LP Makes New $383,000 Investment in EchoStar Co. (NASDAQ:SATS)

Quantbot Technologies LP purchased a new stake in EchoStar Co. (NASDAQ:SATS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,436 shares of the communications equipment provider’s stock, valued at approximately $383,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Darsana Capital Partners LP bought a new position in shares of EchoStar during the second quarter worth about $36,908,000. American Century Companies Inc. raised its holdings in shares of EchoStar by 51.5% in the second quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock valued at $39,961,000 after purchasing an additional 762,462 shares during the last quarter. Monarch Alternative Capital LP boosted its holdings in EchoStar by 23.6% during the second quarter. Monarch Alternative Capital LP now owns 1,854,000 shares of the communications equipment provider’s stock worth $33,020,000 after purchasing an additional 354,000 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in EchoStar during the second quarter worth $1,830,000. Finally, California State Teachers Retirement System increased its stake in EchoStar by 229.4% in the 1st quarter. California State Teachers Retirement System now owns 119,319 shares of the communications equipment provider’s stock valued at $1,700,000 after buying an additional 83,094 shares during the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Price Performance

NASDAQ:SATS opened at $24.55 on Wednesday. The firm’s fifty day moving average price is $24.77 and its two-hundred day moving average price is $21.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The company has a market cap of $6.67 billion, a P/E ratio of -2.68 and a beta of 0.69. EchoStar Co. has a one year low of $10.91 and a one year high of $30.08.

Analyst Upgrades and Downgrades

SATS has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. Morgan Stanley upped their price objective on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. UBS Group raised their target price 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. StockNews.com raised shares of EchoStar to a “sell” rating in a research report on Saturday, November 9th. Finally, Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, EchoStar has a consensus rating of “Hold” and an average target price of $19.25.

Insider Activity at EchoStar

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the transaction, the chairman now owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 55.90% of the stock is owned by company insiders.

EchoStar Company 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.