Crossmark Global Holdings Inc. Makes New Investment in EchoStar Corporation $SATS

Crossmark Global Holdings Inc. acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,849 shares of the communications equipment provider’s stock, valued at approximately $523,000.

Several other large investors have also modified their holdings of SATS. SG Americas Securities LLC grew its position in shares of EchoStar by 575.2% in the 3rd quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock valued at $2,697,000 after buying an additional 30,090 shares during the last quarter. Phoenix Financial Ltd. purchased a new stake in EchoStar in the third quarter valued at $780,000. State of Wyoming acquired a new position in EchoStar in the third quarter valued at $1,508,000. Hennessy Advisors Inc. acquired a new position in EchoStar in the third quarter valued at $42,464,000. Finally, Legal & General Group Plc grew its holdings in shares of EchoStar by 13.1% during the second quarter. Legal & General Group Plc now owns 208,982 shares of the communications equipment provider’s stock worth $5,789,000 after purchasing an additional 24,132 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling at EchoStar

In other news, COO John Swieringa sold 50,088 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total value of $5,688,995.04. Following the completion of the transaction, the chief operating officer owned 253,535 shares in the company, valued at $28,796,505.30. This trade represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the completion of the sale, the chief executive officer owned 823,293 shares of the company’s stock, valued at $88,520,463.36. This trade represents a 7.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is currently owned by insiders.

EchoStar Stock Up 3.4%

EchoStar stock opened at $112.18 on Thursday. The stock’s 50 day moving average price is $115.62 and its 200 day moving average price is $91.08. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $132.25. The company has a market cap of $32.29 billion, a PE ratio of -2.23 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.42 and a quick ratio of 0.38.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SATS shares. Zacks Research upgraded EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, January 21st. UBS Group raised their price target on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Citigroup lifted their price target on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EchoStar has a consensus rating of “Moderate Buy” and an average target price of $134.17.

Key Headlines Impacting EchoStar

Here are the key news stories impacting EchoStar this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer highlighted that the market has been underestimating EchoStar’s spectrum assets, a bullish narrative that can drive retail and momentum flows. Jim Cramer Says “The Market Dramatically Underappreciated the Value of EchoStar’s Spectrum Assets”
• Positive Sentiment: S&P 500 inclusion/support: Recent coverage notes SATS will join the S&P 500 rebalance, which typically triggers one-time index buying and greater institutional interest. S&P Rebalance Article
• Positive Sentiment: Operational catalysts: Analysts and stories point to the upcoming Falcon 9 EchoStar XXV launch and recent spectrum sales as potential revenue/cash-flow inflection points if launches and monetization proceed as planned. Falcon 9 / Valuation Article
• Neutral Sentiment: Marketing/promotions in the ecosystem: Sling TV is running promotions tied to March Madness (may help subscriber engagement for Dish/Sling-related businesses but limited direct impact on EchoStar’s core spectrum/broadband thesis). Sling TV & Trae Young Promotion
• Neutral Sentiment: Carrier/device news: Boost Mobile will offer the new iPhone 17e — industry-level news that is tangential to EchoStar and unlikely to move SATS materially. Boost Mobile to Offer the New iPhone 17e
• Negative Sentiment: Insider selling: CEO Hamid Akhavan sold 71,005 shares (~$7.63M) on March 6, trimming his position by ~7.9%; meaningful insider sales can weigh on sentiment even if insiders remain large holders. SEC Form 4
• Negative Sentiment: Additional insider selling reported (COO sale), reinforcing the insider-sell narrative that could pressure shares. COO Sale Report
• Negative Sentiment: Industry disruption: Gray Media’s blackout of 226 local channels is disrupting DISH TV customers — a near-term headwind for the satellite/pay-TV ecosystem that can create negative headlines across related names. Gray Media Blackout

EchoStar 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.