10,730 Shares in EchoStar Corporation $SATS Acquired by Allstate Corp

Allstate Corp bought a new stake in EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,730 shares of the communications equipment provider’s stock, valued at approximately $1,166,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CoreCap Advisors LLC acquired a new position in shares of EchoStar during the 4th quarter worth about $28,000. Rosenberg Matthew Hamilton acquired a new stake in shares of EchoStar in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of EchoStar in the 3rd quarter worth approximately $38,000. Tucker Asset Management LLC acquired a new stake in shares of EchoStar in the 4th quarter worth approximately $42,000. Finally, BOKF NA grew its holdings in EchoStar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 300 shares during the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Stock Down 1.4%

SATS stock opened at $129.19 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $147.25. The company has a fifty day simple moving average of $124.63 and a 200 day simple moving average of $110.95. The firm has a market cap of $37.44 billion, a PE ratio of -2.58 and a beta of 0.95.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. During the same period in the prior year, the company posted ($0.71) EPS. Sell-side analysts anticipate that EchoStar Corporation will post -3.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Williams Trading set a $155.00 target price on EchoStar in a research report on Monday, May 18th. TD Cowen lifted their target price on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. UBS Group lifted their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Citigroup lifted their price target on EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research downgraded EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, EchoStar currently has a consensus rating of “Hold” and a consensus target price of $137.14.

Insider Buying and Selling

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Swieringa sold 50,088 shares of EchoStar stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the sale, the chief operating officer owned 253,535 shares in the company, valued at $28,796,505.30. The trade was a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is currently owned by company 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.