7,513 Shares in EchoStar Corporation $SATS Purchased by Clear Street Group Inc.

Clear Street Group Inc. purchased a new stake in EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,513 shares of the communications equipment provider’s stock, valued at approximately $817,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dockside LLC purchased a new position in shares of EchoStar during the fourth quarter valued at approximately $1,554,000. Arax Advisory Partners raised its position in EchoStar by 22,637.4% in the 4th quarter. Arax Advisory Partners now owns 20,691 shares of the communications equipment provider’s stock valued at $2,249,000 after buying an additional 20,600 shares during the last quarter. Arvin Capital Management LP bought a new position in EchoStar during the 4th quarter valued at $2,804,000. Kestra Advisory Services LLC bought a new position in EchoStar during the 4th quarter valued at $61,000. Finally, Marshall Wace LLP boosted its holdings in EchoStar by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,435,531 shares of the communications equipment provider’s stock worth $156,042,000 after acquiring an additional 731,806 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $117.86 on Tuesday. The firm has a market capitalization of $34.16 billion, a PE ratio of -2.35 and a beta of 0.95. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The company has a 50-day moving average price of $125.79 and a two-hundred day moving average price of $115.15. EchoStar Corporation has a twelve month low of $23.87 and a twelve month high of $147.25.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned ($0.71) EPS.

Analyst Ratings Changes

Several analysts have recently commented on SATS shares. UBS Group increased their target price on shares of EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Zacks Research downgraded shares of EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Williams Trading set a $155.00 price objective on shares of EchoStar in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $137.71.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.70% of the stock is owned by insiders.

EchoStar Company Profile

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.