Sentinel Dome Partners LLC Takes $5.22 Million Position in EchoStar Corporation $SATS

Sentinel Dome Partners LLC acquired a new stake in shares of EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 48,000 shares of the communications equipment provider’s stock, valued at approximately $5,218,000. EchoStar accounts for 3.5% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in SATS. Hollencrest Capital Management purchased a new position in EchoStar during the 4th quarter valued at about $26,000. CoreCap Advisors LLC purchased a new stake in shares of EchoStar in the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of EchoStar in the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar in the third quarter valued at approximately $38,000. Finally, Tucker Asset Management LLC purchased a new position in EchoStar during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Performance

NASDAQ SATS opened at $109.17 on Friday. The stock’s 50-day simple moving average is $124.75 and its two-hundred day simple moving average is $116.00. EchoStar Corporation has a twelve month low of $24.15 and a twelve month 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 capitalization of $31.64 billion, a price-to-earnings ratio of -2.18 and a beta of 0.94.

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

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. UBS Group boosted their price target 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. New Street Research set a $165.00 price target on shares of EchoStar in a report on Monday. TD Cowen increased 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, Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EchoStar presently has an average rating of “Hold” and an average 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.