Hanseatic Management Services Inc. Takes $1.05 Million Position in EchoStar Corporation $SATS

Hanseatic Management Services Inc. acquired a new stake in shares of EchoStar Corporation (NASDAQ:SATS) in the first quarter, HoldingsChannel reports. The fund acquired 8,952 shares of the communications equipment provider’s stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sachem Head Capital Management LP bought a new position in EchoStar in the fourth quarter worth about $568,218,000. Norges Bank bought a new position in shares of EchoStar during the fourth quarter valued at approximately $182,111,000. 140 Summer Partners LP bought a new stake in shares of EchoStar in the 4th quarter worth approximately $99,678,000. Atreides Management LP acquired a new position in EchoStar during the 4th quarter valued at approximately $97,948,000. Finally, Contrarius Group Holdings Ltd boosted its position in EchoStar by 68.6% during the 4th quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the communications equipment provider’s stock valued at $237,154,000 after purchasing an additional 887,611 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the sale, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 55.90% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $103.80 on Friday. The stock has a market cap of $30.08 billion, a P/E ratio of -2.07 and a beta of 0.94. The firm’s 50-day simple moving average is $116.26 and its 200 day simple moving average is $117.07. EchoStar Corporation has a fifty-two week low of $24.15 and a fifty-two week high of $147.25. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17.

EchoStar (NASDAQ:SATS) last issued its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm earned ($0.71) earnings per share.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SATS shares. Williams Trading set a $155.00 target price on EchoStar in a research report on Monday, May 18th. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. TD Cowen lifted their price objective 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. New Street Research set a $165.00 target price on shares of EchoStar in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.71.

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.