Aspiring Ventures LLC Takes Position in EchoStar Corporation $SATS

Aspiring Ventures LLC acquired a new position in EchoStar Corporation (NASDAQ:SATS) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,478 shares of the communications equipment provider’s stock, valued at approximately $1,335,000. EchoStar makes up approximately 0.5% of Aspiring Ventures LLC’s holdings, making the stock its 20th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its holdings in shares of EchoStar by 34.8% during 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 period. SG Americas Securities LLC increased its stake in EchoStar by 575.2% during 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 period. Phoenix Financial Ltd. bought a new stake in shares of EchoStar during the 3rd quarter worth about $780,000. Hennessy Advisors Inc. bought a new position in shares of EchoStar in the third quarter valued at approximately $42,464,000. Finally, State of Wyoming bought a new position in shares of EchoStar in the third quarter valued at approximately $1,508,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at EchoStar

In other EchoStar news, COO John Swieringa sold 22,000 shares of EchoStar stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the transaction, the chief operating officer owned 283,509 shares of the company’s stock, valued at $19,091,496.06. The trade was a 7.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hamid Akhavan sold 285,832 shares of the company’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 completion of the transaction, the chief executive officer owned 376,805 shares in the company, valued at $39,688,870.65. This represents a 43.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.70% of the company’s stock.

EchoStar Price Performance

NASDAQ SATS opened at $113.00 on Wednesday. The stock’s 50-day moving average price is $113.84 and its two-hundred day moving average price is $82.09. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.11. The company has a market cap of $32.53 billion, a PE ratio of -2.52 and a beta of 1.01. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $132.25.

Analyst Ratings Changes

A number of research firms have weighed in on SATS. Zacks Research upgraded EchoStar from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft upped 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. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $82.00 to $110.00 in a report on Wednesday, December 10th. TD Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Finally, UBS Group restated a “buy” rating on shares of EchoStar in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.83.

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.