5,100 Shares in EchoStar Corporation $SATS Purchased by Calamos Advisors LLC

Calamos Advisors LLC bought a new stake in shares of EchoStar Corporation (NASDAQ:SATS) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,100 shares of the communications equipment provider’s stock, valued at approximately $597,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Hollencrest Capital Management bought a new position in shares of EchoStar during the 4th quarter worth $26,000. CoreCap Advisors LLC bought a new position in EchoStar in the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton bought a new position in EchoStar in the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of EchoStar during the third quarter valued at about $38,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of EchoStar during the fourth quarter valued at about $42,000. 33.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SATS. Williams Trading set a $155.00 price objective on shares of EchoStar in a research report on Monday, May 18th. TD Cowen increased their target price 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 restated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. New Street Research set a $165.00 price target on EchoStar in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and a consensus price target of $137.71.

Insider Activity at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.90% of the stock is owned by company insiders.

EchoStar Trading Down 0.1%

Shares of EchoStar stock opened at $103.80 on Friday. The firm’s 50 day simple moving average is $116.72 and its two-hundred day simple moving average is $117.16. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of -2.07 and a beta of 0.94. EchoStar Corporation has a 12-month low of $24.15 and a 12-month 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.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings data 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). EchoStar had a negative net margin of 97.56% and a negative return on equity of 4.80%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last 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.