Lombard Odier Asset Management Switzerland SA Makes New Investment in EchoStar Corporation $SATS

Lombard Odier Asset Management Switzerland SA purchased a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,658 shares of the communications equipment provider’s stock, valued at approximately $897,000.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its position in EchoStar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock worth $672,000 after acquiring an additional 1,511 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in EchoStar by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock valued at $1,854,000 after purchasing an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in EchoStar by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock valued at $8,479,000 after purchasing an additional 24,749 shares during the last quarter. Strs Ohio acquired a new stake in shares of EchoStar during the first quarter valued at about $128,000. Finally, Hsbc Holdings PLC boosted its stake in shares of EchoStar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 2,119 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insiders Place Their Bets

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

EchoStar Trading Down 0.1%

NASDAQ SATS opened at $103.80 on Tuesday. The firm has a market capitalization of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94. The business’s 50-day moving average price is $112.70 and its two-hundred day moving average price is $116.83. 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.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. New Street Research set a $165.00 price objective on EchoStar in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. TD Cowen boosted 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 report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $137.71.

About EchoStar

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.