EchoStar Corporation (NASDAQ:SATS) Given Average Rating of “Hold” by Analysts

Shares of EchoStar Corporation (NASDAQ:SATS) have received a consensus rating of “Hold” from the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $134.1667.

A number of equities analysts have recently issued reports on SATS shares. Zacks Research downgraded EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. TD Cowen reaffirmed a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Morgan Stanley upgraded shares of EchoStar from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $82.00 to $110.00 in a report on Wednesday, December 10th. Williams Trading set a $158.00 price target on shares of EchoStar in a report on Wednesday, January 7th. Finally, Citigroup increased their price objective on shares of EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd.

EchoStar Stock Up 0.7%

Shares of NASDAQ:SATS opened at $109.84 on Friday. The business’s 50 day moving average is $115.07 and its 200 day moving average is $93.57. The stock has a market cap of $31.62 billion, a P/E ratio of -2.18 and a beta of 1.01. EchoStar has a 52-week low of $14.90 and a 52-week high of $132.25. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21.

Insiders Place Their Bets

In related news, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the sale, the chief operating officer owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the completion of the transaction, the chief executive officer owned 823,293 shares in the company, 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. Company insiders own 55.90% of the company’s stock.

Institutional Trading of EchoStar

Several hedge funds have recently modified their holdings of the company. HB Wealth Management LLC grew its position in shares of EchoStar by 2.0% in the 4th quarter. HB Wealth Management LLC now owns 4,933 shares of the communications equipment provider’s stock worth $536,000 after buying an additional 98 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in EchoStar by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the communications equipment provider’s stock valued at $611,000 after acquiring an additional 114 shares during the last quarter. Fifth Third Bancorp lifted its position in EchoStar by 8.1% during the fourth quarter. Fifth Third Bancorp now owns 1,800 shares of the communications equipment provider’s stock valued at $196,000 after acquiring an additional 135 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in EchoStar by 0.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the communications equipment provider’s stock valued at $3,274,000 after acquiring an additional 144 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in EchoStar in the fourth quarter worth $26,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

About EchoStar

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.