Counterpoint Mutual Funds LLC Takes Position in EchoStar Corporation $SATS

Counterpoint Mutual Funds LLC acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the 3rd quarter, HoldingsChannel reports. The fund acquired 6,829 shares of the communications equipment provider’s stock, valued at approximately $521,000.

Several other institutional investors have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its holdings 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 acquiring an additional 23,195 shares during the period. SG Americas Securities LLC lifted 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 worth $2,697,000 after purchasing an additional 30,090 shares during the last quarter. Phoenix Financial Ltd. bought a new stake in EchoStar during the 3rd quarter valued at approximately $780,000. State of Wyoming acquired a new stake in EchoStar in the 3rd quarter valued at approximately $1,508,000. Finally, Hennessy Advisors Inc. acquired a new stake in EchoStar in the 3rd quarter valued at approximately $42,464,000. Institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

NASDAQ:SATS opened at $107.42 on Tuesday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61. The company has a 50-day moving average of $114.38 and a 200-day moving average of $84.48. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $132.25. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of -2.39 and a beta of 1.01.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Zacks Research raised EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $82.00 to $110.00 in a research note on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, UBS Group reiterated a “buy” rating on shares of EchoStar in a research note on Thursday, January 29th. One 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 stock. According to data from MarketBeat, EchoStar currently has an average rating of “Moderate Buy” and an average target price of $133.83.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 285,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were 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 in the company, valued at $39,688,870.65. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 55.70% of the stock is currently owned by corporate insiders.

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.