Allianz Asset Management GmbH Sells 89,051 Shares of EchoStar Corporation $SATS

Allianz Asset Management GmbH decreased its stake in EchoStar Corporation (NASDAQ:SATS) by 71.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,402 shares of the communications equipment provider’s stock after selling 89,051 shares during the period. Allianz Asset Management GmbH’s holdings in EchoStar were worth $2,780,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in EchoStar by 6.0% during the first quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock worth $672,000 after acquiring an additional 1,511 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in EchoStar by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock valued at $1,854,000 after acquiring an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of EchoStar by 8.1% in 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 purchasing an additional 24,749 shares during the last quarter. Strs Ohio bought a new stake in shares of EchoStar during the 1st quarter worth about $128,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in EchoStar by 19.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,728 shares of the communications equipment provider’s stock worth $408,000 after acquiring an additional 2,389 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insiders Place Their Bets

In other news, COO John Swieringa sold 22,000 shares of the 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 completion of the sale, the chief operating officer directly owned 283,509 shares of the company’s stock, valued at $19,091,496.06. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hamid Akhavan sold 285,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the sale, the chief executive officer directly owned 376,805 shares in the company, valued at approximately $39,688,870.65. This represents a 43.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SATS has been the topic of a number of research reports. Williams Trading set a $158.00 price objective on EchoStar in a report on Wednesday, January 7th. Zacks Research upgraded shares of EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday. TD Cowen reissued a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, UBS Group restated a “buy” rating on shares of EchoStar in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, EchoStar presently has an average rating of “Moderate Buy” and a consensus target price of $133.83.

EchoStar Trading Down 4.9%

Shares of SATS opened at $110.06 on Thursday. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $132.25. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.11. The firm has a fifty day simple moving average of $111.60 and a two-hundred day simple moving average of $79.43. The stock has a market capitalization of $31.68 billion, a P/E ratio of -2.45 and a beta of 1.01.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.