Mirabella Financial Services LLP Takes $420,000 Position in EchoStar Corporation $SATS

Mirabella Financial Services LLP bought a new stake in EchoStar Corporation (NASDAQ:SATS) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 5,500 shares of the communications equipment provider’s stock, valued at approximately $420,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of EchoStar by 575.2% during the third quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock worth $2,697,000 after purchasing an additional 30,090 shares in the last quarter. Junto Capital Management LP acquired a new stake in shares of EchoStar in the 3rd quarter valued at about $55,199,000. Phoenix Financial Ltd. acquired a new stake in shares of EchoStar in the 3rd quarter valued at about $780,000. State of Wyoming purchased a new position in EchoStar during the 3rd quarter worth approximately $1,508,000. Finally, Hennessy Advisors Inc. purchased a new position in EchoStar during the 3rd quarter worth approximately $42,464,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Trading Up 1.3%

NASDAQ SATS opened at $109.11 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $31.41 billion, a P/E ratio of -2.17 and a beta of 1.01. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $132.25. The firm has a 50-day moving average price of $115.27 and a 200 day moving average price of $93.23.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $110.00 in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Three 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $134.17.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the transaction, the chief executive officer owned 823,293 shares in the company, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction on 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 approximately $28,796,505.30. This trade represents a 16.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by 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.