Governors Lane LP Sells 25,764 Shares of EchoStar Corporation $SATS

Governors Lane LP lessened its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 11.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,118 shares of the communications equipment provider’s stock after selling 25,764 shares during the period. EchoStar comprises approximately 1.3% of Governors Lane LP’s investment portfolio, making the stock its 13th largest holding. Governors Lane LP’s holdings in EchoStar were worth $21,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new stake in EchoStar during the fourth quarter worth about $26,000. CoreCap Advisors LLC bought a new stake in EchoStar during the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton acquired a new position in EchoStar during the fourth quarter worth approximately $29,000. Tucker Asset Management LLC acquired a new position in EchoStar during the fourth quarter worth approximately $42,000. Finally, BOKF NA increased its position in EchoStar by 300.0% during the fourth quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 300 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The transaction 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. Insiders own 55.90% of the company’s stock.

EchoStar Price Performance

EchoStar stock opened at $111.70 on Thursday. EchoStar Corporation has a 12 month low of $24.15 and a 12 month high of $147.25. The stock’s 50 day moving average is $125.33 and its 200-day moving average is $115.79. 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 company has a market capitalization of $32.37 billion, a price-to-earnings ratio of -2.23 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Williams Trading set a $155.00 price target on EchoStar in a research report on Monday, May 18th. New Street Research set a $165.00 price target on EchoStar in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, UBS Group boosted their price target on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Four 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.