Sentinel Dome Partners LLC Takes $5.22 Million Position in EchoStar Corporation $SATS

Sentinel Dome Partners LLC bought a new stake in shares of EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 48,000 shares of the communications equipment provider’s stock, valued at approximately $5,218,000. EchoStar comprises about 3.5% of Sentinel Dome Partners LLC’s holdings, making the stock its 8th largest position.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in EchoStar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock valued at $672,000 after acquiring an additional 1,511 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of EchoStar by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock valued at $1,854,000 after purchasing an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of EchoStar by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock valued at $8,479,000 after purchasing an additional 24,749 shares during the last quarter. Strs Ohio purchased a new stake in shares of EchoStar in the first quarter valued at about $128,000. Finally, Hsbc Holdings PLC lifted its position in shares of EchoStar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 2,119 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $109.17 on Friday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The stock has a market capitalization of $31.64 billion, a PE ratio of -2.18 and a beta of 0.94. EchoStar Corporation has a one year low of $24.15 and a one year high of $147.25. The business’s fifty day moving average price is $124.75 and its 200-day moving average price is $116.00.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations 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 last year, the business posted ($0.71) EPS.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SATS. TD Cowen boosted their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Williams Trading set a $155.00 target price on shares of EchoStar in a research report on Monday, May 18th. UBS Group lifted their target price on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. New Street Research set a $165.00 target price on EchoStar in a report on Monday. Finally, Zacks Research downgraded EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. 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, the company presently has a consensus rating of “Hold” and a consensus target price of $137.71.

EchoStar 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.