Vanguard Personalized Indexing Management LLC Purchases 2,389 Shares of EchoStar Corporation $SATS

Vanguard Personalized Indexing Management LLC boosted its position in EchoStar Corporation (NASDAQ:SATS) by 19.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,728 shares of the communications equipment provider’s stock after acquiring an additional 2,389 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in EchoStar were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its stake in EchoStar by 25.3% in the first quarter. Northern Trust Corp now owns 1,699,986 shares of the communications equipment provider’s stock valued at $43,486,000 after acquiring an additional 343,590 shares during the last quarter. Rhumbline Advisers increased its stake in EchoStar by 4.7% in the first quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider’s stock valued at $10,027,000 after acquiring an additional 17,448 shares during the last quarter. Empowered Funds LLC boosted its position in EchoStar by 13.1% during the first quarter. Empowered Funds LLC now owns 389,311 shares of the communications equipment provider’s stock valued at $9,959,000 after buying an additional 45,123 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in EchoStar during the second quarter valued at about $9,541,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in EchoStar by 8.1% during 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 valued at $8,479,000 after buying an additional 24,749 shares during the period. Institutional investors own 33.62% of the company’s stock.

Insider Activity at EchoStar

In related news, Director Kathleen Q. Abernathy sold 16,754 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $82.35, for a total value of $1,379,691.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid Akhavan sold 233,918 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the transaction, the chief executive officer directly owned 376,805 shares of the company’s stock, valued at $28,392,256.75. This represents a 38.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 460,740 shares of company stock valued at $35,967,480 in the last three months. Corporate insiders own 55.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SATS. TD Cowen upped their price target on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Zacks Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of EchoStar in a research report on Wednesday, August 27th. Finally, Morgan Stanley upped their price target on shares of EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, EchoStar has an average rating of “Moderate Buy” and a consensus target price of $75.20.

EchoStar Price Performance

SATS stock opened at $72.23 on Thursday. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $85.37. The company has a market cap of $20.78 billion, a P/E ratio of -68.79 and a beta of 0.96. The firm has a 50-day moving average of $65.07 and a 200 day moving average of $38.41. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15.

EchoStar (NASDAQ:SATS) last released its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the prior year, the firm earned ($0.76) earnings per share. EchoStar’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

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.