Lansforsakringar Fondforvaltning AB publ Buys Shares of 4,897 EchoStar Corporation $SATS

Lansforsakringar Fondforvaltning AB publ purchased a new stake in EchoStar Corporation (NASDAQ:SATS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,897 shares of the communications equipment provider’s stock, valued at approximately $573,000.

Several other hedge funds have also recently modified their holdings of the business. Hollencrest Capital Management bought a new position in shares of EchoStar during the fourth quarter valued at approximately $26,000. CoreCap Advisors LLC purchased a new position in EchoStar during the fourth quarter valued at approximately $28,000. Rosenberg Matthew Hamilton bought a new position in EchoStar in the fourth quarter worth approximately $29,000. Tucker Asset Management LLC bought a new position in EchoStar in the fourth quarter worth approximately $42,000. Finally, BOKF NA raised its stake in EchoStar by 300.0% in 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 in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

NASDAQ SATS opened at $103.80 on Friday. The firm’s fifty day simple moving average is $119.90 and its two-hundred day simple moving average is $117.16. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. EchoStar Corporation has a 12-month low of $24.15 and a 12-month high of $147.25. The firm has a market capitalization of $30.08 billion, a P/E ratio of -2.07 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results 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). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the company posted ($0.71) earnings per share.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. TD Cowen boosted their price target on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. New Street Research set a $165.00 price objective on EchoStar in a research note on Monday, June 15th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Williams Trading set a $155.00 target price on shares of EchoStar in a report on Monday, May 18th. Four 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.71.

Insiders Place Their Bets

In related news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The stock was 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 in the company, valued at $104,741,593. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is currently owned by company 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.