Atria Investments Inc Invests $241,000 in EchoStar Corporation $SATS

Atria Investments Inc acquired a new stake in shares of EchoStar Corporation (NASDAQ:SATS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 8,694 shares of the communications equipment provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group lifted its position in EchoStar by 70,980.0% during the first quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock valued at $91,000 after purchasing an additional 3,549 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of EchoStar in the first quarter worth about $102,000. Strs Ohio purchased a new position in shares of EchoStar during the 1st quarter valued at about $128,000. AlphaQuest LLC bought a new position in shares of EchoStar during the 2nd quarter valued at approximately $130,000. Finally, Nisa Investment Advisors LLC increased its holdings in EchoStar by 16.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 746 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at EchoStar

In other news, COO Paul Gaske sold 45,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $80.25, for a total transaction of $3,611,250.00. Following the completion of the transaction, the chief operating officer directly owned 1,593 shares in the company, valued at approximately $127,838.25. This represents a 96.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Q. Abernathy sold 16,754 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $82.35, for a total transaction of $1,379,691.90. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 460,740 shares of company stock worth $35,967,480. 55.90% of the stock is owned by corporate insiders.

EchoStar Stock Performance

Shares of NASDAQ SATS opened at $69.98 on Friday. The company has a market cap of $20.13 billion, a P/E ratio of -66.65 and a beta of 0.94. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $85.37. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. The firm’s fifty day moving average is $74.18 and its two-hundred day moving average is $44.18.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($43.14). The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.75 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, analysts anticipate that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SATS shares. Morgan Stanley lifted their price target on shares of EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a report on Tuesday, September 9th. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft set a $105.00 target price on shares of EchoStar in a report on Tuesday, September 9th. Citigroup raised their price target on EchoStar from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, TD Cowen boosted their price objective on EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and an average price target of $75.60.

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.