EchoStar Corporation $SATS Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in EchoStar Corporation (NASDAQ:SATS) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,425,400 shares of the communications equipment provider’s stock after selling 276,712 shares during the period. Vanguard Group Inc. owned 4.67% of EchoStar worth $1,025,164,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in EchoStar by 11.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,665 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 167 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of EchoStar by 0.5% during the 3rd quarter. Amalgamated Bank now owns 58,941 shares of the communications equipment provider’s stock worth $4,501,000 after acquiring an additional 293 shares during the period. Voya Investment Management LLC boosted its position in shares of EchoStar by 0.8% in the third quarter. Voya Investment Management LLC now owns 37,456 shares of the communications equipment provider’s stock worth $2,860,000 after acquiring an additional 298 shares during the last quarter. UMB Bank n.a. boosted its position in shares of EchoStar by 23.1% in the third quarter. UMB Bank n.a. now owns 1,875 shares of the communications equipment provider’s stock worth $143,000 after acquiring an additional 352 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in EchoStar by 79.1% in the third quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock valued at $64,000 after purchasing an additional 370 shares during the period. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SATS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Zacks Research raised shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Williams Trading set a $158.00 target price on EchoStar in a research report on Wednesday, January 7th. UBS Group reiterated a “buy” rating on shares of EchoStar in a report on Thursday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.83.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 285,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the sale, the chief executive officer owned 376,805 shares of the company’s stock, valued at $39,688,870.65. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 55.90% of the stock is owned by insiders.

EchoStar Price Performance

EchoStar stock opened at $110.36 on Friday. The firm has a fifty day moving average of $114.31 and a 200-day moving average of $83.52. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $132.25. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.11. The firm has a market capitalization of $31.77 billion, a P/E ratio of -2.46 and a beta of 1.01.

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.