EchoStar Corporation $SATS Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its position in EchoStar Corporation (NASDAQ:SATS) by 1,301.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,734 shares of the communications equipment provider’s stock after acquiring an additional 472,424 shares during the quarter. SG Americas Securities LLC owned about 0.18% of EchoStar worth $59,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Bellwether Advisors LLC purchased a new position in EchoStar during the 4th quarter worth $3,593,000. Dockside LLC purchased a new stake in shares of EchoStar in the fourth quarter valued at about $1,554,000. Junto Capital Management LP acquired a new position in shares of EchoStar during the third quarter worth about $55,199,000. Seven Grand Managers LLC acquired a new position in shares of EchoStar during the fourth quarter worth about $21,740,000. Finally, Legal & General Group Plc raised its holdings in EchoStar by 47.0% during the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the communications equipment provider’s stock worth $38,746,000 after purchasing an additional 114,018 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SATS has been the subject of several recent analyst reports. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Williams Trading set a $155.00 price objective on EchoStar in a report on Monday, May 18th. UBS Group increased their price objective on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a report on Monday, April 20th. Finally, New Street Research set a $165.00 target price on shares of EchoStar in a research report on Monday, June 15th. Four investment 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. Based on data from MarketBeat, EchoStar has a consensus rating of “Hold” and a consensus target price of $137.71.

Insider Buying and Selling at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 55.70% of the company’s stock.

EchoStar Price Performance

NASDAQ:SATS opened at $106.40 on Tuesday. EchoStar Corporation has a 12-month low of $24.15 and a 12-month high of $147.25. The firm has a market cap of $30.84 billion, a price-to-earnings ratio of -2.12 and a beta of 0.95. The company’s 50-day moving average is $124.47 and its two-hundred day moving average is $116.53. 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 posted its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations 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) EPS.

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.