EchoStar Corporation $SATS Shares Acquired by Boothbay Fund Management LLC

Boothbay Fund Management LLC boosted its holdings in EchoStar Corporation (NASDAQ:SATS) by 21.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,414 shares of the communications equipment provider’s stock after acquiring an additional 14,688 shares during the quarter. Boothbay Fund Management LLC’s holdings in EchoStar were worth $8,958,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. DLD Asset Management LP acquired a new position in shares of EchoStar during the 3rd quarter valued at $2,481,700,000. Sachem Head Capital Management LP acquired a new position in shares of EchoStar during the 4th quarter valued at $568,218,000. Icahn Carl C bought a new stake in shares of EchoStar during the 3rd quarter worth $332,513,000. Geode Capital Management LLC boosted its stake in shares of EchoStar by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,524,576 shares of the communications equipment provider’s stock worth $382,595,000 after acquiring an additional 48,671 shares in the last quarter. Finally, Contrarius Group Holdings Ltd boosted its stake in shares of 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 worth $237,154,000 after acquiring an additional 887,611 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

EchoStar Stock Down 7.7%

SATS stock opened at $111.70 on Thursday. EchoStar Corporation has a twelve month low of $24.15 and a twelve month high of $147.25. The company has a market cap of $32.37 billion, a PE ratio of -2.23 and a beta of 0.94. The business’s 50-day simple moving average is $125.33 and its 200 day simple moving average is $115.79. 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 released its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the business earned ($0.71) earnings per share.

Insiders Place Their Bets

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

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.