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

Helix Partners Management LP cut its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 24.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 181,320 shares of the communications equipment provider’s stock after selling 58,680 shares during the period. EchoStar comprises approximately 5.7% of Helix Partners Management LP’s holdings, making the stock its 3rd largest holding. Helix Partners Management LP’s holdings in EchoStar were worth $21,227,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SATS. Hilltop Holdings Inc. acquired a new position in shares of EchoStar during the 1st quarter worth about $204,000. CLG LLC increased its position in shares of EchoStar by 1.2% in the first quarter. CLG LLC now owns 123,190 shares of the communications equipment provider’s stock valued at $14,422,000 after acquiring an additional 1,459 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of EchoStar in the first quarter valued at about $650,000. Bank of Nova Scotia raised its holdings in EchoStar by 92.1% during the first quarter. Bank of Nova Scotia now owns 19,157 shares of the communications equipment provider’s stock worth $2,243,000 after acquiring an additional 9,187 shares in the last quarter. Finally, State of Wyoming raised its holdings in EchoStar by 60.4% during the first quarter. State of Wyoming now owns 32,102 shares of the communications equipment provider’s stock worth $3,758,000 after acquiring an additional 12,093 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

EchoStar Stock Down 0.1%

EchoStar stock opened at $103.80 on Friday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The company’s 50-day moving average is $113.35 and its 200-day moving average is $116.87. The firm has a market capitalization of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94. EchoStar Corporation has a fifty-two week low of $24.15 and a fifty-two week high of $147.25.

EchoStar (NASDAQ:SATS) last issued its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business posted ($0.71) earnings per share.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SATS shares. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. TD Cowen upped their price objective on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Williams Trading set a $155.00 price objective on EchoStar in a report on Monday, May 18th. Finally, New Street Research set a $165.00 target price on shares of EchoStar in a research note on Monday, June 15th. Four 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.71.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of the company’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 $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by corporate insiders.

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.