New York State Teachers Retirement System Has $2.95 Million Position in EchoStar Corporation $SATS

New York State Teachers Retirement System grew its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,477 shares of the communications equipment provider’s stock after buying an additional 2,100 shares during the quarter. New York State Teachers Retirement System’s holdings in EchoStar were worth $2,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SATS. Farther Finance Advisors LLC boosted its stake in EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 975 shares during the last quarter. GAMMA Investing LLC grew its holdings in EchoStar by 39.6% during the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after buying an additional 976 shares in the last quarter. Brooklyn Investment Group grew its holdings in EchoStar by 70,980.0% during the first quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock worth $91,000 after buying an additional 3,549 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in EchoStar in the 1st quarter valued at $102,000. Finally, Strs Ohio bought a new position in EchoStar during the 1st quarter valued at $128,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SATS shares. Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a report on Tuesday, September 9th. Citigroup raised shares of EchoStar from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. TD Cowen increased their price target on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Cowen reaffirmed a “buy” rating on shares of EchoStar in a research report on Wednesday, August 27th. Finally, Zacks Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, EchoStar currently has an average rating of “Moderate Buy” and a consensus price target of $75.20.

EchoStar Stock Down 0.5%

SATS stock opened at $73.77 on Wednesday. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $85.37. The firm has a market capitalization of $21.23 billion, a PE ratio of -70.26 and a beta of 0.96. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. The stock has a 50-day simple moving average of $64.20 and a two-hundred day simple moving average of $38.18.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.06. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.76) EPS. On average, equities analysts predict that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Insider Transactions at EchoStar

In other news, COO John Swieringa sold 154,835 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the transaction, the chief operating officer directly owned 432 shares in the company, valued at approximately $35,078.40. This represents a 99.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hamid Akhavan sold 233,918 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the transaction, the chief executive officer owned 376,805 shares in the company, valued at $28,392,256.75. The trade was a 38.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 460,740 shares of company stock worth $35,967,480 in the last three months. Insiders own 55.70% of the company’s stock.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.