Swiss National Bank increased its position in shares of EchoStar Corporation (NASDAQ:SATS – Free Report) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 412,967 shares of the communications equipment provider’s stock after purchasing an additional 27,200 shares during the period. Swiss National Bank owned 0.14% of EchoStar worth $48,346,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of EchoStar in the 4th quarter valued at approximately $26,000. CoreCap Advisors LLC acquired a new position in EchoStar in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in EchoStar in the third quarter valued at approximately $38,000. Tucker Asset Management LLC purchased a new position in EchoStar in the fourth quarter worth approximately $42,000. Finally, BOKF NA grew its position in EchoStar by 300.0% in the fourth quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 300 shares during the period. 33.62% of the stock is owned by hedge funds and other institutional investors.
EchoStar Stock Down 0.1%
Shares of NASDAQ SATS opened at $103.80 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The business’s 50 day moving average is $114.65 and its two-hundred day moving average is $117.02. EchoStar Corporation has a 52-week low of $24.15 and a 52-week high of $147.25. The firm has a market cap of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SATS. Williams Trading set a $155.00 target price on EchoStar in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. New Street Research set a $165.00 price objective on shares of EchoStar in a report on Monday, June 15th. TD Cowen upped their target price on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, EchoStar presently has an average rating of “Hold” and an average price target of $137.71.
Read Our Latest Report on EchoStar
Insider Buying and Selling
In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at $104,741,593. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by company insiders.
EchoStar Company Profile
EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.
In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.
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