EchoStar Corporation $SATS Shares Sold by Rangeley Capital LLC

Rangeley Capital LLC trimmed its holdings in EchoStar Corporation (NASDAQ:SATS) by 25.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the communications equipment provider’s stock after selling 6,000 shares during the period. EchoStar comprises approximately 1.9% of Rangeley Capital LLC’s holdings, making the stock its 10th largest holding. Rangeley Capital LLC’s holdings in EchoStar were worth $2,107,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Luxor Capital Group LP acquired a new stake in EchoStar during the first quarter valued at approximately $2,927,000. Lombard Odier Asset Management Switzerland SA bought a new stake in EchoStar during the first quarter valued at $897,000. London Co. of Virginia acquired a new stake in shares of EchoStar during the first quarter worth $427,000. Hilltop Holdings Inc. acquired a new stake in shares of EchoStar during the first quarter worth $204,000. Finally, CLG LLC lifted its holdings in EchoStar by 1.2% in the first quarter. CLG LLC now owns 123,190 shares of the communications equipment provider’s stock worth $14,422,000 after acquiring an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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 research report on Monday, May 18th. New Street Research set a $165.00 price target on shares of EchoStar in a report on Monday, June 15th. Finally, Williams Trading set a $155.00 price objective on shares of EchoStar in a research report on Monday, May 18th. Four equities research 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $137.71.

EchoStar Trading Down 0.1%

NASDAQ SATS opened at $103.80 on Monday. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. EchoStar Corporation has a twelve month low of $24.15 and a twelve month high of $147.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. The firm’s 50 day moving average price is $113.35 and its two-hundred day moving average price is $116.91.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The business 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 in the prior year, the company posted ($0.71) earnings per share.

Insider Buying and Selling at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 55.90% of the company’s stock.

About EchoStar

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.