Vigilare Wealth Management Purchases Shares of 4,986 EchoStar Corporation $SATS

Vigilare Wealth Management purchased a new stake in shares of EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,986 shares of the communications equipment provider’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SATS. AQR Capital Management LLC increased its position in EchoStar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock valued at $672,000 after acquiring an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $1,854,000 after purchasing an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 worth $8,479,000 after purchasing an additional 24,749 shares in the last quarter. Strs Ohio acquired a new position in shares of EchoStar during the first quarter valued at $128,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of EchoStar during the second quarter valued at about $217,000. 33.62% of the stock is owned by institutional investors.

Insider Activity at EchoStar

In other news, COO John Swieringa sold 50,088 shares of EchoStar stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total value of $5,688,995.04. Following the transaction, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the completion of the transaction, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at $88,520,463.36. This represents a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 55.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SATS. Citigroup increased their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Williams Trading set a $158.00 price target on shares of EchoStar in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upped 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. Finally, TD Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.17.

EchoStar Stock Performance

SATS opened at $109.84 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. The firm has a market cap of $31.62 billion, a PE ratio of -2.18 and a beta of 1.01. The business has a fifty day simple moving average of $115.07 and a 200-day simple moving average of $93.57. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $132.25.

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.