Greenland Capital Management LP Makes New $208,000 Investment in EchoStar Corporation $SATS

Greenland Capital Management LP bought a new position in EchoStar Corporation (NASDAQ:SATS) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 7,500 shares of the communications equipment provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group increased its position 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 purchasing an additional 3,549 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of EchoStar during the 1st quarter worth approximately $102,000. AlphaQuest LLC purchased a new stake in shares of EchoStar during the 2nd quarter valued at approximately $130,000. Strs Ohio purchased a new stake in shares of EchoStar during the 1st quarter valued at approximately $128,000. Finally, Nisa Investment Advisors LLC lifted its holdings 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 acquiring an additional 746 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling

In related news, COO John Swieringa sold 154,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $81.20, for a total value of $12,572,602.00. Following the sale, the chief operating officer owned 432 shares of the company’s stock, valued at $35,078.40. This trade represents a 99.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Q. Abernathy sold 16,754 shares of EchoStar stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $82.35, for a total transaction 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 worth $35,967,480 in the last quarter. Company insiders own 55.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SATS shares. Citigroup raised their target price on EchoStar from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a research report on Tuesday, September 9th. TD Cowen increased their target price on shares of EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Finally, Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.60.

EchoStar Trading Down 0.9%

Shares of SATS stock opened at $69.10 on Thursday. The stock has a market capitalization of $19.89 billion, a P/E ratio of -65.81 and a beta of 0.94. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $85.37. 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 company has a 50 day moving average price of $73.41 and a 200 day moving average price of $45.60.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) EPS for the quarter, missing the consensus estimate of ($1.23) by ($43.14). The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.75 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.52) EPS. Equities research analysts predict that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

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.