Orvieto Partners L.P. Has $585,000 Stock Position in EchoStar Corporation $SATS

Orvieto Partners L.P. lowered its position in EchoStar Corporation (NASDAQ:SATS) by 50.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the communications equipment provider’s stock after selling 5,000 shares during the quarter. Orvieto Partners L.P.’s holdings in EchoStar were worth $585,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SATS. Hollencrest Capital Management acquired a new position in shares of EchoStar in the fourth quarter valued at $26,000. CoreCap Advisors LLC acquired a new stake in EchoStar during the fourth quarter worth $28,000. Tucker Asset Management LLC acquired a new stake in EchoStar during the fourth quarter worth $42,000. BOKF NA increased its holdings in EchoStar by 300.0% in the 4th quarter. BOKF NA now owns 400 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 300 shares during the period. Finally, Whittier Trust Co. bought a new stake in EchoStar in the 1st quarter valued at $51,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Down 0.1%

Shares of NASDAQ SATS opened at $103.80 on Friday. EchoStar Corporation has a 52-week low of $24.15 and a 52-week high of $147.25. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. The business has a fifty day moving average of $114.02 and a two-hundred day moving average of $116.96. The stock has a market cap of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last posted its earnings results on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.03). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted ($0.71) EPS.

Analyst Upgrades and Downgrades

SATS has been the subject of a number of analyst reports. New Street Research set a $165.00 price objective on shares of EchoStar in a report on Monday, June 15th. Wall Street Zen raised shares of EchoStar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen increased their price target on shares of EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Williams Trading set a $155.00 price target on shares of EchoStar in a research note on Monday, May 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $137.71.

Insider Activity

In other news, CEO Hamid Akhavan sold 52,586 shares of EchoStar stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 865,633 shares in the company, 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 legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.