EchoStar Corporation $SATS Shares Acquired by State of Wyoming

State of Wyoming lifted its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 60.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,102 shares of the communications equipment provider’s stock after buying an additional 12,093 shares during the period. EchoStar accounts for approximately 0.4% of State of Wyoming’s holdings, making the stock its 14th biggest position. State of Wyoming’s holdings in EchoStar were worth $3,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SATS. Hollencrest Capital Management bought a new position in EchoStar in the fourth quarter worth about $26,000. CoreCap Advisors LLC acquired a new position in EchoStar in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar during the third quarter valued at approximately $38,000. Tucker Asset Management LLC bought a new position in shares of EchoStar during the fourth quarter valued at approximately $42,000. Finally, BOKF NA raised its position in shares of EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Transactions at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the sale, the chief executive officer directly owned 865,633 shares in the company, valued at $104,741,593. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SATS. TD Cowen raised their price target on 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 price objective on EchoStar in a research note on Monday, May 18th. New Street Research set a $165.00 target price on EchoStar in a research report on Monday, June 15th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.71.

EchoStar Price Performance

NASDAQ SATS opened at $103.80 on Thursday. The company has a 50-day moving average price of $114.65 and a two-hundred day moving average price of $117.02. EchoStar Corporation has a 52 week low of $24.15 and a 52 week high of $147.25. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17.

EchoStar (NASDAQ:SATS) last released its quarterly 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). The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same period last year, the firm posted ($0.71) EPS.

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.