XTX Topco Ltd Sells 21,825 Shares of EchoStar Corporation $SATS

XTX Topco Ltd reduced its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 54.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,618 shares of the communications equipment provider’s stock after selling 21,825 shares during the quarter. XTX Topco Ltd’s holdings in EchoStar were worth $516,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its stake in shares of EchoStar by 70,980.0% during the first quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock worth $91,000 after acquiring an additional 3,549 shares during the last quarter. Strs Ohio purchased a new stake in EchoStar during the 1st quarter worth approximately $128,000. AlphaQuest LLC acquired a new position in EchoStar during the 2nd quarter valued at approximately $130,000. Nisa Investment Advisors LLC raised its holdings in shares of EchoStar by 16.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 746 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new stake in shares of EchoStar during the first quarter worth $166,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kathleen Q. Abernathy sold 16,754 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $82.35, for a total transaction of $1,379,691.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Swieringa sold 154,835 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the sale, the chief operating officer owned 432 shares of the company’s stock, valued at $35,078.40. This trade represents a 99.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 482,740 shares of company stock worth $37,448,960. 55.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SATS has been the subject of a number of research reports. Citigroup lifted their price target on EchoStar from $85.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. TD Cowen increased their price target on shares of EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Morgan Stanley upped their price objective on shares of EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a report on Tuesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research report on Tuesday, September 9th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.60.

EchoStar Trading Up 0.6%

Shares of SATS stock opened at $74.50 on Friday. The stock’s fifty day moving average is $73.14 and its two-hundred day moving average is $49.16. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a market capitalization of $21.45 billion, a P/E ratio of -1.66 and a beta of 1.03. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $85.37.

EchoStar (NASDAQ:SATS) last issued its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($43.14). The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.75 billion. EchoStar had a positive return on equity of 0.39% and a negative net margin of 85.36%.The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned ($0.52) earnings per share. Research analysts expect that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.