Geode Capital Management LLC Has $95.55 Million Holdings in EchoStar Corporation $SATS

Geode Capital Management LLC increased its stake in shares of EchoStar Corporation (NASDAQ:SATS) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,449,193 shares of the communications equipment provider’s stock after buying an additional 355,009 shares during the quarter. Geode Capital Management LLC’s holdings in EchoStar were worth $95,553,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SATS. Brooklyn Investment Group raised its stake in EchoStar by 70,980.0% during the first quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider’s stock worth $91,000 after acquiring an additional 3,549 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of EchoStar in the 1st quarter worth about $102,000. AlphaQuest LLC acquired a new stake in shares of EchoStar during the 2nd quarter worth about $130,000. Strs Ohio bought a new position in EchoStar during the 1st quarter valued at about $128,000. Finally, Nisa Investment Advisors LLC lifted its holdings in EchoStar by 16.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock valued at $145,000 after purchasing an additional 746 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Stock Up 2.1%

Shares of SATS opened at $68.63 on Friday. The business’s fifty day moving average price is $73.09 and its two-hundred day moving average price is $46.06. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of -65.36 and a beta of 0.94. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $85.37. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($43.14). The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.75 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company earned ($0.52) EPS. On average, analysts predict that EchoStar Corporation will post -1.99 earnings per share for the current year.

Analysts Set New Price Targets

SATS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a research note on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, October 8th. Citigroup lifted their price objective on EchoStar from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Cowen restated a “buy” rating on shares of EchoStar in a report on Wednesday, August 27th. Finally, Morgan Stanley raised their target price on EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average price target of $75.60.

Insider Buying and Selling at EchoStar

In other news, COO John Swieringa sold 154,835 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $81.20, for a total value of $12,572,602.00. Following the transaction, the chief operating officer owned 432 shares of the company’s stock, valued at approximately $35,078.40. This trade represents a 99.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hamid Akhavan sold 233,918 shares of EchoStar stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $75.35, for a total transaction of $17,625,721.30. Following the sale, the chief executive officer owned 376,805 shares of the company’s stock, valued at approximately $28,392,256.75. This represents a 38.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 460,740 shares of company stock valued at $35,967,480. 55.90% of the stock is currently owned by company insiders.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.