449,000 Shares in EchoStar Corporation $SATS Bought by Attestor Capital Ltd

Attestor Capital Ltd acquired a new position in EchoStar Corporation (NASDAQ:SATS) during the 4th quarter, HoldingsChannel reports. The fund acquired 449,000 shares of the communications equipment provider’s stock, valued at approximately $48,806,000. EchoStar accounts for about 23.0% of Attestor Capital Ltd’s investment portfolio, making the stock its 3rd largest holding.

Other large investors have also bought and sold shares of the company. Hollencrest Capital Management acquired a new position in EchoStar during the 4th quarter worth about $26,000. CoreCap Advisors LLC bought a new stake in shares of EchoStar in the 4th quarter valued at about $28,000. Rosenberg Matthew Hamilton acquired a new stake in shares of EchoStar in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of EchoStar in the third quarter valued at about $38,000. Finally, Tucker Asset Management LLC bought a new position in shares of EchoStar during the fourth quarter worth about $42,000. 33.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

SATS has been the topic of a number of recent analyst reports. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. TD Cowen boosted their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Williams Trading set a $155.00 price target on shares of EchoStar in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.71.

Insiders Place Their Bets

In other EchoStar news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction that occurred 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 sale, 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 SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 55.90% of the company’s stock.

EchoStar Stock Performance

Shares of EchoStar stock opened at $109.17 on Friday. The business has a 50-day moving average price of $125.02 and a two-hundred day moving average price of $116.05. EchoStar Corporation has a 1-year low of $24.15 and a 1-year high of $147.25. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17. The company has a market cap of $31.64 billion, a P/E ratio of -2.18 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.65 billion. During the same period in the prior year, the firm earned ($0.71) earnings per share.

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.