9,136 Shares in EchoStar Corporation $SATS Bought by Swedbank AB

Swedbank AB purchased a new position in shares of EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,136 shares of the communications equipment provider’s stock, valued at approximately $993,000.

A number of other hedge funds have also bought and sold shares of the business. Prospera Financial Services Inc bought a new stake in EchoStar during the fourth quarter worth $382,000. Coldstream Capital Management Inc. bought a new stake in EchoStar during the fourth quarter worth $273,000. Berkshire Capital Holdings Inc. bought a new stake in EchoStar during the fourth quarter worth $6,120,000. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in EchoStar by 8.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,403 shares of the communications equipment provider’s stock worth $370,000 after acquiring an additional 278 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in EchoStar by 261.3% during the fourth quarter. Global Retirement Partners LLC now owns 3,617 shares of the communications equipment provider’s stock worth $393,000 after acquiring an additional 2,616 shares during the period. 33.62% of the stock is currently owned by institutional investors.

EchoStar Price Performance

EchoStar stock opened at $122.46 on Thursday. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $147.25. The business has a 50-day simple moving average of $123.83 and a 200 day simple moving average of $110.41. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 3.17. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of -2.44 and a beta of 0.95.

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). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned ($0.71) EPS. On average, research analysts forecast that EchoStar Corporation will post -3.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SATS has been the topic of a number of recent analyst reports. New Street Research assumed coverage on EchoStar in a report on Wednesday, May 13th. They set a “buy” rating and a $161.00 price target on the stock. Wall Street Zen upgraded EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Citigroup boosted their target price on EchoStar from $111.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Williams Trading set a $155.00 target price on EchoStar in a research note on Monday, May 18th. Finally, Zacks Research lowered EchoStar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Four investment 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.14.

Insider Transactions at EchoStar

In other EchoStar news, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the transaction, the chief operating officer owned 253,535 shares in the company, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hamid Akhavan sold 71,005 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $107.52, for a total value of $7,634,457.60. Following the transaction, the chief executive officer owned 823,293 shares in the company, valued at $88,520,463.36. This trade represents a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.90% of the company’s stock.

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.