EchoStar Corporation $SATS Shares Sold by Vanguard Group Inc.

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

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

EchoStar Trading Down 3.9%

NASDAQ:SATS opened at $110.36 on Friday. The company has a market cap of $31.77 billion, a PE ratio of -2.46 and a beta of 1.01. The business’s 50 day moving average is $114.31 and its two-hundred day moving average is $83.52. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.11. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $132.25.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 285,832 shares of EchoStar stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the completion of the transaction, the chief executive officer owned 376,805 shares of the company’s stock, valued at $39,688,870.65. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 55.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on SATS. UBS Group reiterated a “buy” rating on shares of EchoStar in a research note on Thursday, January 29th. Citigroup lifted their price objective on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft upped their target price on EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Zacks Research raised shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $82.00 to $110.00 in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.83.

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.