9,136 Shares in EchoStar Corporation $SATS Acquired by Swedbank AB

Swedbank AB bought a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,136 shares of the communications equipment provider’s stock, valued at approximately $993,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deseret Mutual Benefit Administrators acquired a new stake in EchoStar during the 3rd quarter worth approximately $28,000. CoreCap Advisors LLC acquired a new stake in EchoStar during the 4th quarter worth approximately $28,000. Rosenberg Matthew Hamilton acquired a new stake in EchoStar during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in EchoStar during the 3rd quarter worth approximately $38,000. Finally, BOKF NA increased its position in EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Analyst Ratings Changes

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

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $127.15 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $137.44. The company has a 50 day moving average of $118.43 and a two-hundred day moving average of $104.79. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of -2.53 and a beta of 0.95.

Insider Activity at EchoStar

In other news, COO John Swieringa sold 50,088 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the 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 transaction, the chief executive officer owned 823,293 shares of the company’s stock, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 55.70% of the company’s stock.

EchoStar 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.