EchoStar Corporation (NASDAQ:SATS) Receives Consensus Recommendation of “Hold” from Analysts

EchoStar Corporation (NASDAQ:SATS) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $134.1667.

Several equities research analysts have weighed in on the company. UBS Group raised their price target 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 objective on shares of EchoStar in a research report on Wednesday, January 7th. TD Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, January 21st. Finally, Morgan Stanley raised shares of EchoStar from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $82.00 to $110.00 in a report on Wednesday, December 10th.

Insider Buying and Selling at EchoStar

In related news, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total value of $5,688,995.04. Following the transaction, the chief operating officer directly owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EchoStar

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in EchoStar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock worth $672,000 after buying an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in EchoStar by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock valued at $1,854,000 after acquiring an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of EchoStar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock valued at $8,479,000 after acquiring an additional 24,749 shares during the last quarter. Strs Ohio acquired a new stake in shares of EchoStar in the first quarter worth $128,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of EchoStar in the second quarter worth $217,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Stock Up 0.7%

Shares of SATS stock opened at $109.84 on Friday. The stock’s fifty day moving average price is $115.07 and its 200 day moving average price is $93.57. EchoStar has a 1-year low of $14.90 and a 1-year high of $132.25. The company has a market cap of $31.62 billion, a price-to-earnings ratio of -2.18 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.

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.