Y Intercept Hong Kong Ltd Has $445,000 Stock Position in EchoStar Corporation $SATS

Y Intercept Hong Kong Ltd trimmed its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 58.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,056 shares of the communications equipment provider’s stock after selling 22,604 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in EchoStar were worth $445,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SATS. State of New Jersey Common Pension Fund D grew its stake in EchoStar by 34.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 89,902 shares of the communications equipment provider’s stock worth $2,490,000 after buying an additional 23,195 shares in the last quarter. Quarry LP lifted its holdings in shares of EchoStar by 394.8% during the 1st quarter. Quarry LP now owns 20,055 shares of the communications equipment provider’s stock worth $513,000 after acquiring an additional 16,002 shares during the period. Swiss National Bank boosted its position in shares of EchoStar by 8.7% during the 1st quarter. Swiss National Bank now owns 270,025 shares of the communications equipment provider’s stock worth $6,907,000 after acquiring an additional 21,600 shares in the last quarter. Corebridge Financial Inc. increased its stake in EchoStar by 196.8% in the first quarter. Corebridge Financial Inc. now owns 192,280 shares of the communications equipment provider’s stock valued at $4,919,000 after acquiring an additional 127,496 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in EchoStar during the first quarter worth $276,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling

In related news, CEO Hamid Akhavan sold 233,918 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at approximately $28,392,256.75. This represents a 38.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Q. Abernathy sold 16,754 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $82.35, for a total value of $1,379,691.90. The disclosure for this sale is available in the SEC filing. Insiders have sold 460,740 shares of company stock valued at $35,967,480 over the last ninety days. Insiders own 55.70% of the company’s stock.

EchoStar Price Performance

Shares of EchoStar stock opened at $70.65 on Friday. EchoStar Corporation has a one year low of $14.90 and a one year high of $85.37. The stock has a market capitalization of $20.33 billion, a P/E ratio of -67.29 and a beta of 0.94. The business’s 50 day simple moving average is $73.41 and its two-hundred day simple moving average is $42.45. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $105.00 target price on EchoStar in a research report on Tuesday, September 9th. TD Cowen lifted their target price on 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 report on Wednesday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. Finally, Citigroup upgraded EchoStar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.20.

About EchoStar

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.