Helix Partners Management LP Sells 58,680 Shares of EchoStar Corporation $SATS

Helix Partners Management LP trimmed its position in shares of EchoStar Corporation (NASDAQ:SATS) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,320 shares of the communications equipment provider’s stock after selling 58,680 shares during the quarter. EchoStar accounts for 5.7% of Helix Partners Management LP’s portfolio, making the stock its 3rd largest position. Helix Partners Management LP owned approximately 0.06% of EchoStar worth $21,227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachem Head Capital Management LP acquired a new stake in EchoStar during the 4th quarter worth $568,218,000. Norges Bank acquired a new position in EchoStar in the fourth quarter valued at about $182,111,000. 140 Summer Partners LP acquired a new position in EchoStar in the fourth quarter valued at about $99,678,000. Atreides Management LP bought a new stake in shares of EchoStar in the fourth quarter worth about $97,948,000. Finally, Contrarius Group Holdings Ltd increased its holdings in shares of EchoStar by 68.6% in the fourth quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the communications equipment provider’s stock worth $237,154,000 after acquiring an additional 887,611 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Price Performance

SATS stock opened at $103.80 on Friday. The stock has a 50-day moving average price of $113.35 and a two-hundred day moving average price of $116.87. EchoStar Corporation has a 1 year low of $24.15 and a 1 year high of $147.25. The stock has a market cap of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94. 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 (NASDAQ:SATS) last issued its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same quarter last year, the firm earned ($0.71) earnings per share.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of the business’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 sale, the chief executive officer owned 865,633 shares in the company, valued at approximately $104,741,593. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 55.90% of the company’s stock.

Wall Street Analyst Weigh In

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

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.