EchoStar Corporation $SATS Stock Holdings Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 29.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,515 shares of the communications equipment provider’s stock after acquiring an additional 4,460 shares during the quarter. State of Alaska Department of Revenue’s holdings in EchoStar were worth $1,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised 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 purchasing an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of EchoStar by 4.6% during 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 buying an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of EchoStar by 8.1% during 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 buying an additional 24,749 shares in the last quarter. Strs Ohio acquired a new position in EchoStar during the first quarter valued at $128,000. Finally, Harbor Capital Advisors Inc. lifted its stake in EchoStar by 22.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 26,613 shares of the communications equipment provider’s stock worth $737,000 after acquiring an additional 4,897 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Activity at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 285,832 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $105.33, for a total transaction of $30,106,684.56. Following the transaction, the chief executive officer owned 376,805 shares in the company, valued at $39,688,870.65. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Swieringa sold 22,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the completion of the sale, the chief operating officer owned 283,509 shares of the company’s stock, valued at $19,091,496.06. The trade was a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group lifted their target price on EchoStar from $28.00 to $125.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. TD Cowen lifted their target price on shares of EchoStar from $100.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $132.17.

EchoStar Trading Down 0.2%

Shares of NASDAQ:SATS opened at $123.27 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $35.49 billion, a PE ratio of -2.75 and a beta of 1.02. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $132.25. The firm has a fifty day moving average price of $94.54 and a 200 day moving average price of $68.08.

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

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.