134,435 Shares in EchoStar Corporation $SATS Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, Holdings Channel.com reports. The fund purchased 134,435 shares of the communications equipment provider’s stock, valued at approximately $15,081,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Junto Capital Management LP purchased a new stake in EchoStar during the 3rd quarter worth approximately $55,199,000. SG Americas Securities LLC increased its stake in EchoStar by 575.2% during the 3rd quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock valued at $2,697,000 after purchasing an additional 30,090 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of EchoStar in the fourth quarter worth $28,994,000. Phoenix Financial Ltd. acquired a new stake in shares of EchoStar during the third quarter worth $780,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of EchoStar during the fourth quarter worth $20,459,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Price Performance

SATS stock opened at $127.15 on Monday. The company has a market capitalization of $36.73 billion, a P/E ratio of -2.53 and a beta of 0.95. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $137.44. The firm’s fifty day simple moving average is $118.43 and its 200-day simple moving average is $104.79. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.38.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup upped their target price on EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Zacks Research downgraded EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, UBS Group increased their price objective on EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Three equities research 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. Based on data from MarketBeat.com, EchoStar has a consensus rating of “Hold” and an average price target of $134.17.

Insider Buying and Selling at EchoStar

In related news, COO John Swieringa sold 50,088 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were 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 in the company, valued at $28,796,505.30. The trade was a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction 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 approximately $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. Company insiders own 55.70% of the company’s stock.

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.