Ancient Art L.P. Has $61.57 Million Stock Holdings in EchoStar Corporation $SATS

Ancient Art L.P. lowered its holdings in EchoStar Corporation (NASDAQ:SATS) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 566,389 shares of the communications equipment provider’s stock after selling 100,000 shares during the quarter. EchoStar makes up 13.9% of Ancient Art L.P.’s portfolio, making the stock its 3rd biggest position. Ancient Art L.P.’s holdings in EchoStar were worth $61,566,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in EchoStar in the fourth quarter worth approximately $26,000. CoreCap Advisors LLC bought a new position in shares of EchoStar during the 4th quarter worth approximately $28,000. Rosenberg Matthew Hamilton bought a new position in shares of EchoStar during the 4th quarter worth approximately $29,000. Tucker Asset Management LLC bought a new position in shares of EchoStar during the 4th quarter worth approximately $42,000. Finally, BOKF NA raised its stake in shares of EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

SATS has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group boosted their price objective on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. New Street Research set a $165.00 price objective on shares of EchoStar in a research note on Monday. TD Cowen upped their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.71.

Insider Transactions at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the sale, the chief executive officer owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 55.90% of the company’s stock.

EchoStar Price Performance

Shares of SATS opened at $111.70 on Thursday. The business’s 50-day moving average is $125.33 and its two-hundred day moving average is $115.79. The company has a market capitalization of $32.37 billion, a P/E ratio of -2.23 and a beta of 0.94. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. EchoStar Corporation has a fifty-two week low of $24.15 and a fifty-two week high of $147.25.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.During the same period in the prior year, the business posted ($0.71) earnings per share.

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.