EchoStar Corporation $SATS Stock Position Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its stake in EchoStar Corporation (NASDAQ:SATS) by 247.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,552 shares of the communications equipment provider’s stock after buying an additional 8,941 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in EchoStar were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SATS. Hollencrest Capital Management acquired a new position in shares of EchoStar in the fourth quarter worth $26,000. CoreCap Advisors LLC acquired a new stake in EchoStar during the fourth quarter valued at $28,000. Rosenberg Matthew Hamilton purchased a new position in EchoStar in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in EchoStar in the 3rd quarter worth about $38,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of EchoStar during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Transactions at EchoStar

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 transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at $104,741,593. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on SATS. Williams Trading set a $155.00 price target on EchoStar in a research note on Monday, May 18th. TD Cowen raised their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. New Street Research set a $165.00 target price on shares of EchoStar in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, EchoStar presently has an average rating of “Hold” and an average target price of $137.71.

EchoStar Stock Down 0.1%

SATS stock opened at $103.80 on Thursday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. EchoStar Corporation has a 52-week low of $24.15 and a 52-week high of $147.25. The company has a 50-day moving average of $120.67 and a two-hundred day moving average of $117.28. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last posted 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). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the firm posted ($0.71) earnings per share.

EchoStar 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.