7,826 Shares in EchoStar Corporation $SATS Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. acquired a new stake in EchoStar Corporation (NASDAQ:SATS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,826 shares of the communications equipment provider’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently bought and sold shares of SATS. Brooklyn Investment Group lifted its stake in shares of EchoStar by 70,980.0% in the 1st 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 during the period. Picton Mahoney Asset Management bought a new stake in EchoStar in the first quarter valued at about $102,000. Strs Ohio acquired a new position in EchoStar in the first quarter valued at about $128,000. AlphaQuest LLC bought a new position in EchoStar during the second quarter worth about $130,000. Finally, Nisa Investment Advisors LLC grew its position in shares of EchoStar by 16.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 746 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Trading Up 3.2%

Shares of NASDAQ:SATS opened at $73.13 on Friday. The firm has a market cap of $21.05 billion, a price-to-earnings ratio of -69.65 and a beta of 0.94. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $85.37. The company’s fifty day simple moving average is $73.08 and its 200 day simple moving average is $47.73. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28.

EchoStar (NASDAQ:SATS) last announced its earnings results 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.75 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.EchoStar’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.52) earnings per share. As a group, research analysts forecast that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

Insider Transactions at EchoStar

In other news, COO John Swieringa sold 22,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $67.34, for a total value of $1,481,480.00. Following the sale, the chief operating officer owned 283,509 shares of the company’s stock, valued at $19,091,496.06. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hamid Akhavan sold 233,918 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the transaction, the chief executive officer owned 376,805 shares of the company’s stock, valued at $28,392,256.75. The trade was a 38.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 482,740 shares of company stock worth $37,448,960 in the last 90 days. 55.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SATS. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, October 8th. TD Cowen boosted their price target on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Cowen reaffirmed a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Finally, Citigroup lifted their target price on EchoStar from $85.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.