Penserra Capital Management LLC Purchases 86,917 Shares of EchoStar Corporation $SATS

Penserra Capital Management LLC increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 92.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 180,734 shares of the communications equipment provider’s stock after purchasing an additional 86,917 shares during the period. Penserra Capital Management LLC’s holdings in EchoStar were worth $5,006,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in shares of EchoStar by 70,980.0% in the 1st quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock valued at $91,000 after acquiring an additional 3,549 shares during the period. Picton Mahoney Asset Management acquired a new stake in EchoStar in the 1st quarter valued at about $102,000. AlphaQuest LLC bought a new position in EchoStar during the second quarter worth about $130,000. Strs Ohio acquired a new position in EchoStar during the first quarter worth approximately $128,000. Finally, Nisa Investment Advisors LLC raised its stake in EchoStar by 16.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 746 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Up 4.0%

SATS opened at $73.48 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. The stock has a fifty day moving average of $73.65 and a 200-day moving average of $43.12. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $85.37. The company has a market capitalization of $21.14 billion, a P/E ratio of -69.98 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($43.14). EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted ($0.52) earnings per share. EchoStar’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts expect that EchoStar Corporation will post -1.99 EPS for the current year.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO Paul Gaske sold 45,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $80.25, for a total transaction of $3,611,250.00. Following the transaction, the chief operating officer owned 1,593 shares in the company, valued at $127,838.25. This trade represents a 96.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hamid Akhavan sold 233,918 shares of EchoStar stock in a transaction on Friday, September 12th. The shares were sold at an average price of $75.35, for a total value of $17,625,721.30. Following the completion of the transaction, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at $28,392,256.75. This represents a 38.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 460,740 shares of company stock valued at $35,967,480 over the last ninety days. Company insiders own 55.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SATS has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, October 8th. Citigroup raised shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a report on Tuesday, September 9th. Morgan Stanley raised their target price on shares of EchoStar from $59.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 9th. Finally, Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.20.

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.