Mezzasalma Advisors LLC Buys Shares of 14,435 EchoStar Corporation $SATS

Mezzasalma Advisors LLC purchased a new position in EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,435 shares of the communications equipment provider’s stock, valued at approximately $1,619,000.

Other large investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in shares of EchoStar during the 3rd quarter valued at $28,000. CoreCap Advisors LLC purchased a new position in EchoStar during the 4th quarter worth $28,000. Rosenberg Matthew Hamilton acquired a new position in EchoStar during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in EchoStar in the third quarter valued at about $38,000. Finally, Bessemer Group Inc. boosted its holdings in EchoStar by 79.1% in the third quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 370 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hamid Akhavan sold 71,005 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 823,293 shares in the company, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Swieringa sold 50,088 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by corporate insiders.

EchoStar Price Performance

Shares of SATS stock opened at $128.68 on Monday. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $132.25. The firm has a market capitalization of $37.17 billion, a PE ratio of -2.56 and a beta of 1.00. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. The stock’s 50-day simple moving average is $113.54 and its 200-day simple moving average is $97.00.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SATS. TD Cowen restated a “buy” rating on shares of EchoStar in a report on Wednesday, January 7th. Zacks Research cut shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of EchoStar from $97.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Citigroup upped their price target 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. Finally, Williams Trading set a $158.00 price objective on shares of EchoStar in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.