The Vanguard Group, Inc. has recently announced that it has increased stake in EchoStar Corp (NASDAQ:SATS) by 18.61%. After grabbing 4.05 million shares, the institutional investor is now in possession of 0.64 million shares of the Technology Company. The new investment brought the stake of investor firm to 2.89% having worth around $67.05 million. Moreover, Beryl Capital Management LLC increased its share by 2.15 million to have a control over 2.15 million shares. And GoldenTree Asset Management LP raised its holdings to 2.08 million shares by acquiring 2.08 million shares or 1.49% of the stake.
EchoStar Corp (SATS) concluded trading on Wednesday at a closing price of $14.72, with 4.16 million shares of worth about $61.2 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -23.17% during that period and On Wednesday, January 24 the price saw a loss of about -2.58%. Currently the company’s common shares owned by public are about 271.41M shares, out of which, 120.51M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 1 times over the past 12 months. They bought 100,000 shares in 1 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
iShares Core S&P Small Cap ETF, Schwab Fundamental US Small Compa, and iShares S&P Small Cap 600 Value E are the top 3 mutual funds which are holding stakes in EchoStar Corp iShares Core S&P Small Cap ETF is currently holding 7.16 million shares of worth totaling $118.68 million. The company recently came buying 0.0 shares which brought its stake up to 19.77% of the company’s outstanding shares. Schwab Fundamental US Small Compa sold 900.0 shares, after which its hold over company’s outstanding shares shrunk to 6.95%, leaving 2.52 million shares with the mutual fund that have a worth of about $41.7 million. iShares S&P Small Cap 600 Value E, after buying 1.5 million shares, have now control over 4.14% of the stake in the company. It holds 0.0 shares of worth $24.84 million.
However, the stock later moved at a day high price of 15.26, or with a loss of -2.58%. Stock saw a price change of -15.89% in past 5 days and over the past one month there was a price change of 4.69%. Year-to-date (YTD), SATS shares are showing a performance of -11.16% which decreased to -17.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.53 but also hit the highest price of $24.80 during that period. The average intraday trading volume for EchoStar Corp shares is 2.49 million. The stock is currently trading -3.27% below its 20-day simple moving average (SMA20), while that difference is up 13.40% for SMA50 and it goes to -8.57% lower than SMA200.
The Vanguard Group, Inc. acquired 4.05 million shares of EchoStar Corp having value of about $67.05 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.64 million shares in the company valued at close to $9347729.92, or have control over 18.61% stake in the company. EchoStar Corp (NASDAQ: SATS) currently have 271.41M outstanding shares and institutions hold larger chunk of about 12.18% of that. Holding of mutual funds in the company is about 1.79% while other institutional holders and individual stake holders have control over 62.45% and -38.59% of the stake respectively.
The stock has a current market capitalization of $4.00B and its 3Y-monthly beta is at 0.69. PE ratio of stock for trailing 12 months is 13.20, while it has posted earnings per share of $1.12 in the same period. Its PEG reads 2.64 and has Quick Ratio of 5.81 while making debt-to-equity ratio of 0.46. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SATS, volatility over the week remained 8.74% while standing at 9.54% over the month.
Analysts are in expectations that EchoStar Corp (SATS) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.56 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.32 which is $0.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.59 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -70.32% while it is estimated to decrease by -163.33% in next year. EPS is likely to grow at an annualized rate of 5.00% for next 5-years, compared to annual growth of -12.36% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on January 17, 2024 offering a Neutral rating for the stock and assigned a target price of $18 to it.
