Mitsubishi UFJ Trust & Banking Corp Has $8.99 Million Stock Position in EchoStar Corporation $SATS

Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 75.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,674 shares of the communications equipment provider’s stock after purchasing an additional 35,686 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in EchoStar were worth $8,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SATS. CoreCap Advisors LLC acquired a new position in EchoStar during the 4th quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new stake in EchoStar in the fourth quarter valued at approximately $29,000. Deseret Mutual Benefit Administrators acquired a new stake in EchoStar in the third quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of EchoStar during the third quarter worth $38,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of EchoStar during the fourth quarter worth $62,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SATS has been the subject of a number of research reports. Williams Trading set a $158.00 price target on EchoStar in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Citigroup upped 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. Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, UBS Group boosted their price target on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.17.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $123.18 on Friday. The firm has a market cap of $35.58 billion, a PE ratio of -2.45 and a beta of 0.96. The firm’s fifty day moving average is $117.61 and its 200-day moving average is $103.56. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $137.44.

Insider Buying and Selling at EchoStar

In related news, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This trade represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $107.52, for a total value of $7,634,457.60. Following the transaction, the chief executive officer directly owned 823,293 shares in the company, valued at $88,520,463.36. The trade was a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by company insiders.

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.