EchoStar Corporation $SATS Shares Bought by Swedbank AB

Swedbank AB increased its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 311.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,615 shares of the communications equipment provider’s stock after buying an additional 28,479 shares during the period. Swedbank AB’s holdings in EchoStar were worth $4,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SATS. Hollencrest Capital Management acquired a new stake in shares of EchoStar in the fourth quarter worth approximately $26,000. CoreCap Advisors LLC purchased a new stake in shares of EchoStar in the fourth quarter valued at about $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of EchoStar in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in EchoStar in the third quarter worth approximately $38,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of EchoStar during the 4th quarter worth about $42,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is currently owned by insiders.

EchoStar Stock Down 0.1%

Shares of SATS stock traded down $0.12 on Friday, reaching $103.80. 11,741,999 shares of the stock were exchanged, compared to its average volume of 12,592,233. The company has a market capitalization of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. The business’s 50 day moving average price is $118.20 and its 200 day moving average price is $117.18. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. EchoStar Corporation has a twelve month low of $24.15 and a twelve month high of $147.25.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on SATS shares. New Street Research set a $165.00 target price on shares of EchoStar in a report on Monday, June 15th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. TD Cowen boosted their price objective on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Williams Trading set a $155.00 target price on shares of EchoStar in a research note on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $137.71.

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.