5,850 Shares in EchoStar Corporation $SATS Purchased by Moment Partners LLC

Moment Partners LLC purchased a new position in EchoStar Corporation (NASDAQ:SATS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,850 shares of the communications equipment provider’s stock, valued at approximately $636,000.

Other institutional investors also recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in shares of EchoStar in the 4th quarter worth about $28,000. Rosenberg Matthew Hamilton bought a new position in shares of EchoStar in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar in the 3rd quarter worth about $38,000. Tucker Asset Management LLC bought a new position in shares of EchoStar in the 4th quarter worth about $42,000. Finally, BOKF NA increased its stake in shares of EchoStar by 300.0% in the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 300 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Stock Performance

Shares of SATS stock opened at $123.55 on Wednesday. The company has a 50 day moving average price of $125.00 and a 200-day moving average price of $111.61. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $147.25. The firm has a market capitalization of $35.81 billion, a PE ratio of -2.47 and a beta of 0.95. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned ($0.71) earnings per share. As a group, equities research analysts expect that EchoStar Corporation will post -3.79 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on SATS shares. New Street Research started coverage on shares of EchoStar in a research note on Wednesday, May 13th. They set a “buy” rating and a $161.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Citigroup raised their price objective on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, TD Cowen raised their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, May 18th. 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $137.14.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 55.70% of the stock is owned by corporate insiders.

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.