Bessemer Group Inc. Purchases 5,066 Shares of EchoStar Corporation $SATS

Bessemer Group Inc. grew its position in EchoStar Corporation (NASDAQ:SATS) by 4.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 119,061 shares of the communications equipment provider’s stock after buying an additional 5,066 shares during the period. Bessemer Group Inc.’s holdings in EchoStar were worth $13,938,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. AQR Capital Management LLC raised its stake in EchoStar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider’s stock worth $672,000 after buying an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of EchoStar by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider’s stock worth $1,854,000 after acquiring an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of EchoStar by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider’s stock worth $8,479,000 after purchasing an additional 24,749 shares during the period. Strs Ohio acquired a new stake in shares of EchoStar during the first quarter worth about $128,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of EchoStar by 18.6% during the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 2,119 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

EchoStar Stock Down 0.1%

Shares of EchoStar stock opened at $103.80 on Friday. The firm has a market cap of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94. The business’s 50 day simple moving average is $116.26 and its 200 day simple moving average is $117.07. 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 Corporation has a 52-week low of $24.15 and a 52-week high of $147.25.

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

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the sale, the chief executive officer owned 865,633 shares of the company’s stock, valued at $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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SATS shares. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. TD Cowen lifted their price target on shares of EchoStar from $129.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Williams Trading set a $155.00 price objective on shares of EchoStar in a research report on Monday, May 18th. Finally, New Street Research set a $165.00 price objective on shares of EchoStar in a report on Monday, June 15th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.71.

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.