EchoStar Corporation $SATS Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 1,301.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 508,734 shares of the communications equipment provider’s stock after acquiring an additional 472,424 shares during the quarter. SG Americas Securities LLC’s holdings in EchoStar were worth $59,557,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SATS. Hollencrest Capital Management purchased a new position in EchoStar in the fourth quarter valued at about $26,000. CoreCap Advisors LLC purchased a new stake in EchoStar during the 4th quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new position in shares of EchoStar in the 4th quarter valued at approximately $29,000. Tucker Asset Management LLC acquired a new position in shares of EchoStar in the 4th quarter valued at approximately $42,000. Finally, BOKF NA boosted its stake in shares of EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the sale, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.70% of the stock is currently owned by corporate insiders.

EchoStar Trading Down 2.5%

NASDAQ:SATS opened at $106.40 on Tuesday. EchoStar Corporation has a 52 week low of $24.15 and a 52 week high of $147.25. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The company has a market cap of $30.84 billion, a PE ratio of -2.12 and a beta of 0.95. The business’s 50 day moving average is $124.47 and its two-hundred day moving average is $116.53.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the company posted ($0.71) earnings per share.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen raised their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, UBS Group boosted their target price on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.71.

About EchoStar

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.