Aljian Capital Management LLC Grows Stock Holdings in EchoStar Corporation $SATS

Aljian Capital Management LLC increased its position in shares of EchoStar Corporation (NASDAQ:SATS) by 144.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,715 shares of the communications equipment provider’s stock after purchasing an additional 7,511 shares during the period. Aljian Capital Management LLC’s holdings in EchoStar were worth $1,489,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sachem Head Capital Management LP purchased a new position in shares of EchoStar in the 4th quarter valued at about $568,218,000. Icahn Carl C acquired a new stake in EchoStar during the third quarter worth approximately $332,513,000. Norges Bank purchased a new stake in shares of EchoStar during the 4th quarter worth approximately $182,111,000. 140 Summer Partners LP purchased a new stake in shares of EchoStar during the 4th quarter worth approximately $99,678,000. Finally, Atreides Management LP acquired a new position in shares of EchoStar in the 4th quarter valued at $97,948,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of the business’s 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 owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 55.90% of the company’s stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $103.80 on Wednesday. EchoStar Corporation has a one year low of $24.15 and a one year high of $147.25. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. The company has a 50-day simple moving average of $119.27 and a 200-day simple moving average of $117.27. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30.

EchoStar (NASDAQ:SATS) last issued 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). The company had revenue of $3.67 billion during 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 quarter last year, the firm earned ($0.71) EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Williams Trading set a $155.00 price target on shares of EchoStar in a research note on Monday, May 18th. New Street Research set a $165.00 price objective on EchoStar in a report on Monday, June 15th. Zacks Research cut EchoStar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, TD Cowen upped their target price on EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.71.

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.