EchoStar Co. (NASDAQ:SATS) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its position in EchoStar Co. (NASDAQ:SATSGet Rating) by 26.8% in the 2nd quarter, Holdings Channel reports. The fund owned 12,050 shares of the communications equipment provider’s stock after acquiring an additional 2,550 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in EchoStar were worth $233,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in EchoStar by 21.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,203 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 925 shares in the last quarter. Counterpoint Mutual Funds LLC boosted its holdings in EchoStar by 527.9% in the 2nd quarter. Counterpoint Mutual Funds LLC now owns 5,406 shares of the communications equipment provider’s stock worth $104,000 after acquiring an additional 4,545 shares during the period. Amalgamated Bank acquired a new position in EchoStar in the 1st quarter worth $109,000. Quantbot Technologies LP acquired a new position in shares of EchoStar in the first quarter worth about $129,000. Finally, Covestor Ltd boosted its stake in shares of EchoStar by 2,809.6% during the 1st quarter. Covestor Ltd now owns 5,470 shares of the communications equipment provider’s stock valued at $133,000 after buying an additional 5,282 shares during the last quarter.

EchoStar Stock Performance

SATS opened at $17.52 on Thursday. The stock’s 50 day moving average price is $17.49 and its two-hundred day moving average price is $19.21. The firm has a market capitalization of $1.46 billion, a P/E ratio of 28.72 and a beta of 0.79. The company has a quick ratio of 5.02, a current ratio of 5.02 and a debt-to-equity ratio of 0.42. EchoStar Co. has a 12-month low of $15.26 and a 12-month high of $30.36.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SATS. StockNews.com upgraded shares of EchoStar from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Raymond James lowered EchoStar from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $57.00 to $27.00 in a report on Friday, November 4th.

EchoStar Company Profile

(Get Rating)

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.

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Institutional Ownership by Quarter for EchoStar (NASDAQ:SATS)

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