216,183 Shares in EchoStar Corporation $SATS Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in EchoStar Corporation (NASDAQ:SATS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 216,183 shares of the communications equipment provider’s stock, valued at approximately $16,508,000. EchoStar makes up about 0.8% of CenterBook Partners LP’s portfolio, making the stock its 22nd largest holding.

Other large investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D lifted its position in EchoStar by 34.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 89,902 shares of the communications equipment provider’s stock valued at $2,490,000 after purchasing an additional 23,195 shares during the last quarter. SG Americas Securities LLC raised its position in shares of EchoStar by 575.2% during the 3rd quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock valued at $2,697,000 after buying an additional 30,090 shares in the last quarter. Phoenix Financial Ltd. bought a new stake in shares of EchoStar during the 3rd quarter worth $780,000. Hennessy Advisors Inc. purchased a new position in EchoStar in the third quarter worth $42,464,000. Finally, State of Wyoming bought a new position in EchoStar in the third quarter valued at $1,508,000. Institutional investors own 33.62% of the company’s stock.

EchoStar Trading Down 0.1%

NASDAQ:SATS opened at $113.00 on Wednesday. The firm has a market capitalization of $32.53 billion, a P/E ratio of -2.52 and a beta of 1.01. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.11. The company has a fifty day moving average of $113.84 and a 200 day moving average of $82.09. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $132.25.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley raised 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. Deutsche Bank Aktiengesellschaft boosted their target price on EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Zacks Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. TD Cowen restated a “buy” rating on shares of EchoStar in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.83.

Insider Activity

In other EchoStar news, CEO Hamid Akhavan sold 285,832 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $105.33, for a total transaction 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. This represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Swieringa sold 22,000 shares of EchoStar stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $67.34, for a total value of $1,481,480.00. Following the completion of the sale, the chief operating officer owned 283,509 shares in the company, valued at approximately $19,091,496.06. This represents a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.70% of the company’s stock.

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.