Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 5,594 Shares of EchoStar Corporation $SATS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of EchoStar Corporation (NASDAQ:SATS) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,476 shares of the communications equipment provider’s stock after buying an additional 5,594 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in EchoStar were worth $955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SATS. Geode Capital Management LLC boosted its position in EchoStar by 11.5% during the second quarter. Geode Capital Management LLC now owns 3,449,193 shares of the communications equipment provider’s stock valued at $95,553,000 after acquiring an additional 355,009 shares during the last quarter. Northern Trust Corp lifted its stake in shares of EchoStar by 25.3% in the 1st quarter. Northern Trust Corp now owns 1,699,986 shares of the communications equipment provider’s stock valued at $43,486,000 after purchasing an additional 343,590 shares during the period. Bank of New York Mellon Corp boosted its position in shares of EchoStar by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,268,572 shares of the communications equipment provider’s stock valued at $35,139,000 after purchasing an additional 313,314 shares in the last quarter. Rhumbline Advisers grew its stake in EchoStar by 4.7% during the first quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider’s stock worth $10,027,000 after purchasing an additional 17,448 shares during the period. Finally, Empowered Funds LLC increased its holdings in EchoStar by 13.1% in the first quarter. Empowered Funds LLC now owns 389,311 shares of the communications equipment provider’s stock worth $9,959,000 after purchasing an additional 45,123 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling at EchoStar

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

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $68.63 on Monday. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $85.37. The stock’s 50 day moving average is $73.09 and its 200-day moving average is $46.37. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of -65.36 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business posted ($0.52) EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. Sell-side analysts forecast that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SATS. Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a research note on Tuesday, September 9th. Citigroup boosted their target price on shares of EchoStar from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, October 8th. TD Cowen raised their price target on shares of EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Finally, Cowen reaffirmed a “buy” rating on shares of EchoStar in a research note 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.60.

About EchoStar

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.