Nwam LLC Acquires Shares of 20,172 EchoStar Corporation $SATS

Nwam LLC bought a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,172 shares of the communications equipment provider’s stock, valued at approximately $2,362,000.

Several other large investors also recently modified their holdings of the business. Sachem Head Capital Management LP bought a new position in EchoStar during the 4th quarter valued at approximately $568,218,000. Norges Bank bought a new stake in shares of EchoStar in the 4th quarter worth approximately $182,111,000. 140 Summer Partners LP purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $99,678,000. Atreides Management LP purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $97,948,000. Finally, Contrarius Group Holdings Ltd raised its holdings in shares of EchoStar by 68.6% during the fourth quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the communications equipment provider’s stock valued at $237,154,000 after acquiring an additional 887,611 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

EchoStar Stock Performance

Shares of EchoStar stock opened at $103.80 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $30.08 billion, a P/E ratio of -2.07 and a beta of 0.94. The business has a fifty day simple moving average of $117.10 and a two-hundred day simple moving average of $117.17. EchoStar Corporation has a 12 month low of $24.15 and a 12 month high of $147.25.

EchoStar (NASDAQ:SATS) last released its 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 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 period in the prior year, the company earned ($0.71) earnings per share.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the sale, the chief executive officer owned 865,633 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by insiders.

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.