EchoStar Co. (NASDAQ:SATS) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of EchoStar Co. (NASDAQ:SATS) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,833 shares of the communications equipment provider’s stock after selling 6,260 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.09% of EchoStar worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Delphia USA Inc. increased its position in EchoStar by 7.4% in the first quarter. Delphia USA Inc. now owns 10,935 shares of the communications equipment provider’s stock worth $200,000 after buying an additional 755 shares during the period. US Bancorp DE increased its holdings in shares of EchoStar by 126.6% in the 2nd quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 809 shares during the period. Boothbay Fund Management LLC lifted its position in EchoStar by 1.2% in the 2nd quarter. Boothbay Fund Management LLC now owns 67,228 shares of the communications equipment provider’s stock valued at $1,166,000 after purchasing an additional 813 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in EchoStar by 11.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 9,483 shares of the communications equipment provider’s stock valued at $173,000 after purchasing an additional 943 shares during the period. Finally, Swiss National Bank grew its position in EchoStar by 1.5% in the 2nd quarter. Swiss National Bank now owns 73,700 shares of the communications equipment provider’s stock worth $1,278,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SATS shares. UBS Group boosted their price objective on EchoStar from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. TD Cowen decreased their price target on EchoStar from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Morgan Stanley cut their price objective on shares of EchoStar from $14.25 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com started coverage on shares of EchoStar in a research report on Saturday. They issued a “sell” rating for the company. Finally, JPMorgan Chase & Co. began coverage on shares of EchoStar in a research report on Wednesday, January 17th. They set a “neutral” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.00.

EchoStar Price Performance

Shares of EchoStar stock opened at $14.20 on Friday. EchoStar Co. has a 52 week low of $9.53 and a 52 week high of $24.80. The company has a current ratio of 0.61, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a market cap of $3.86 billion, a PE ratio of -2.04 and a beta of 0.69. The company’s 50-day moving average price is $13.55 and its two-hundred day moving average price is $13.53.

EchoStar (NASDAQ:SATS) last released its earnings results on Thursday, February 29th. The communications equipment provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $1.19. The business had revenue of $4.16 billion for the quarter. EchoStar had a negative net margin of 36.33% and a positive return on equity of 5.24%. The firm’s revenue for the quarter was up 732.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, sell-side analysts anticipate that EchoStar Co. will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, Director James Defranco bought 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $13.14 per share, for a total transaction of $919,800.00. Following the acquisition, the director now directly owns 176,951 shares of the company’s stock, valued at approximately $2,325,136.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 55.90% of the company’s stock.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.