9,136 Shares in EchoStar Corporation $SATS Acquired by Swedbank AB

Swedbank AB acquired a new stake in EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, Holdings Channel.com reports. The fund acquired 9,136 shares of the communications equipment provider’s stock, valued at approximately $993,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SATS. CoreCap Advisors LLC bought a new position in EchoStar in the 4th quarter valued at approximately $28,000. Rosenberg Matthew Hamilton bought a new position in EchoStar in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in EchoStar in the 3rd quarter valued at approximately $38,000. Tucker Asset Management LLC bought a new position in shares of EchoStar during the 4th quarter valued at $42,000. Finally, BOKF NA lifted its holdings in shares of EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 300 shares during the period. 33.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SATS shares. New Street Research started coverage on EchoStar in a report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. Citigroup raised their target price on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. UBS Group increased their price target on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Finally, Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.14.

EchoStar Trading Down 0.5%

Shares of EchoStar stock opened at $122.46 on Thursday. The firm has a market cap of $35.49 billion, a price-to-earnings ratio of -2.44 and a beta of 0.95. The business has a 50-day moving average price of $123.83 and a 200-day moving average price of $110.41. 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 Corporation has a twelve month low of $14.90 and a twelve month high of $147.25.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data 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 firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned ($0.71) EPS. Equities research analysts anticipate that EchoStar Corporation will post -3.79 EPS for the current fiscal year.

Insider Activity

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the sale, the chief executive officer owned 823,293 shares of the company’s stock, valued at $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the sale, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at approximately $28,796,505.30. The trade was a 16.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.