Creative Planning Has $696,000 Stake in EchoStar Corporation $SATS

Creative Planning cut its holdings in shares of EchoStar Corporation (NASDAQ:SATS) by 42.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,142 shares of the communications equipment provider’s stock after selling 18,462 shares during the quarter. Creative Planning’s holdings in EchoStar were worth $696,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SATS. State of New Jersey Common Pension Fund D increased its holdings in shares of EchoStar by 34.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 89,902 shares of the communications equipment provider’s stock valued at $2,490,000 after purchasing an additional 23,195 shares during the last quarter. Quarry LP lifted its stake in shares of EchoStar by 394.8% during the 1st quarter. Quarry LP now owns 20,055 shares of the communications equipment provider’s stock worth $513,000 after buying an additional 16,002 shares during the last quarter. Swiss National Bank boosted its holdings in shares of EchoStar by 8.7% during the 1st quarter. Swiss National Bank now owns 270,025 shares of the communications equipment provider’s stock worth $6,907,000 after buying an additional 21,600 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of EchoStar by 196.8% during the 1st quarter. Corebridge Financial Inc. now owns 192,280 shares of the communications equipment provider’s stock worth $4,919,000 after buying an additional 127,496 shares during the period. Finally, Headlands Technologies LLC acquired a new position in EchoStar in the 1st quarter valued at about $276,000. Institutional investors own 33.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a research report on Tuesday, September 9th. Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Zacks Research cut EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. TD Cowen upped their price objective on EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EchoStar has a consensus rating of “Hold” and an average target price of $75.60.

EchoStar Trading Up 1.5%

Shares of SATS stock opened at $74.06 on Wednesday. The stock has a market cap of $21.32 billion, a P/E ratio of -70.53 and a beta of 1.03. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $85.37. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $73.09 and a 200 day simple moving average of $48.81.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.04% and a negative return on equity of 1.58%. EchoStar’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.52) earnings per share. On average, research analysts predict that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Q. Abernathy sold 16,754 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was 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 at the SEC website. Also, COO John Swieringa sold 154,835 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the sale, the chief operating officer owned 432 shares in the company, valued at $35,078.40. The trade was a 99.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 482,740 shares of company stock worth $37,448,960 over the last three months. Company insiders own 55.70% 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.