Counterpoint Mutual Funds LLC Invests $521,000 in EchoStar Corporation $SATS

Counterpoint Mutual Funds LLC purchased a new stake in EchoStar Corporation (NASDAQ:SATS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,829 shares of the communications equipment provider’s stock, valued at approximately $521,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D increased its position in shares of EchoStar by 34.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 89,902 shares of the communications equipment provider’s stock worth $2,490,000 after acquiring an additional 23,195 shares in the last quarter. SG Americas Securities LLC boosted its stake in EchoStar by 575.2% in the 3rd quarter. SG Americas Securities LLC now owns 35,321 shares of the communications equipment provider’s stock worth $2,697,000 after purchasing an additional 30,090 shares during the period. Phoenix Financial Ltd. acquired a new position in EchoStar in the 3rd quarter worth approximately $780,000. State of Wyoming purchased a new position in EchoStar during the 3rd quarter worth approximately $1,508,000. Finally, Hennessy Advisors Inc. acquired a new stake in EchoStar during the 3rd quarter valued at $42,464,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. TD Cowen reaffirmed a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. UBS Group restated a “buy” rating on shares of EchoStar in a research report on Thursday, January 29th. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $82.00 to $110.00 in a research note on Wednesday, December 10th. Citigroup increased their price target on shares of EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Williams Trading set a $158.00 price objective on shares of EchoStar in a research note on Wednesday, January 7th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.83.

EchoStar Stock Down 2.7%

EchoStar stock opened at $107.42 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 3.11. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $132.25. The firm’s fifty day simple moving average is $114.38 and its 200-day simple moving average is $84.48. The company has a market capitalization of $30.92 billion, a P/E ratio of -2.39 and a beta of 1.01.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 285,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $105.33, for a total transaction of $30,106,684.56. Following the completion of the sale, the chief executive officer owned 376,805 shares in the company, valued at approximately $39,688,870.65. This represents a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 55.70% of the stock is owned by corporate insiders.

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.