57,696 Shares in EchoStar Corporation $SATS Purchased by Spear Advisors LLC

Spear Advisors LLC bought a new position in EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, Holdings Channel reports. The firm bought 57,696 shares of the communications equipment provider’s stock, valued at approximately $6,272,000. EchoStar makes up approximately 4.4% of Spear Advisors LLC’s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds also recently made changes to their positions in SATS. Hollencrest Capital Management purchased a new stake in shares of EchoStar in the fourth quarter worth about $26,000. Deseret Mutual Benefit Administrators purchased a new position in shares of EchoStar in the third quarter valued at $28,000. CoreCap Advisors LLC purchased a new position in shares of EchoStar in the fourth quarter valued at $28,000. Rosenberg Matthew Hamilton purchased a new position in shares of EchoStar in the fourth quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of EchoStar in the third quarter valued at $38,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SATS. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research cut shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Citigroup upped their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. UBS Group lifted their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Finally, New Street Research began coverage on EchoStar in a report on Wednesday. They issued a “buy” rating and a $161.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $138.00.

Insider Activity

In other EchoStar news, COO John Swieringa sold 50,088 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total value of $5,688,995.04. Following the completion of the sale, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at $28,796,505.30. The trade was a 16.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the completion of the sale, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by insiders.

EchoStar Stock Performance

SATS stock opened at $137.23 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The business’s fifty day simple moving average is $120.64 and its two-hundred day simple moving average is $107.02. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $139.54. The firm has a market cap of $39.64 billion, a price-to-earnings ratio of -2.74 and a beta of 0.95.

EchoStar (NASDAQ:SATS) last released its earnings results on Monday, May 11th. The communications equipment provider reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the business earned ($0.71) EPS. Analysts predict that EchoStar Corporation will post -2.51 earnings per share for the current year.

About EchoStar

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.