Mezzasalma Advisors LLC Invests $1.62 Million in EchoStar Corporation $SATS

Mezzasalma Advisors LLC bought a new stake in shares of EchoStar Corporation (NASDAQ:SATS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,435 shares of the communications equipment provider’s stock, valued at approximately $1,619,000.

A number of other hedge funds have also recently made changes to their positions in SATS. DLD Asset Management LP bought a new stake in EchoStar during the 3rd quarter valued at about $2,481,700,000. Darsana Capital Partners LP increased its position in shares of EchoStar by 15.5% during the second quarter. Darsana Capital Partners LP now owns 8,960,000 shares of the communications equipment provider’s stock worth $248,192,000 after acquiring an additional 1,201,672 shares during the period. Icahn Carl C bought a new stake in shares of EchoStar during the third quarter valued at approximately $332,513,000. Northern Trust Corp raised its stake in shares of EchoStar by 2.8% during the third quarter. Northern Trust Corp now owns 1,744,438 shares of the communications equipment provider’s stock valued at $133,205,000 after acquiring an additional 48,322 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of EchoStar in the third quarter valued at approximately $98,819,000. 33.62% of the stock is currently owned by institutional investors.

EchoStar Stock Performance

Shares of NASDAQ:SATS opened at $128.68 on Monday. The firm has a 50 day moving average of $113.54 and a 200 day moving average of $97.00. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $37.17 billion, a price-to-earnings ratio of -2.56 and a beta of 1.00. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $132.25.

Insider Buying and Selling at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of EchoStar stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $107.52, for a total value of $7,634,457.60. Following the transaction, the chief executive officer owned 823,293 shares in the company, valued at $88,520,463.36. The trade was a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Swieringa sold 50,088 shares of the business’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 completion of the transaction, the chief operating officer owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This represents a 16.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 55.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SATS shares. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $82.00 to $110.00 in a research note on Wednesday, December 10th. UBS Group upped their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Williams Trading set a $158.00 price target on EchoStar in a research report on Wednesday, January 7th. Citigroup raised their price target on EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, EchoStar presently has an average rating of “Hold” and an average target price of $134.17.

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.