11,204 Shares in EchoStar Corporation $SATS Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. opened a new position in EchoStar, buying 11,204 shares valued at about $1.22 million in the fourth quarter.
• EchoStar continues to attract major institutional interest, with several large funds adding stakes and institutional investors now owning 33.62% of the company.
• Insider selling was also notable: CEO Hamid Akhavan and COO John Swieringa both sold shares, while analysts currently rate the stock a Hold on average with a consensus price target of $134.17.

ASR Vermogensbeheer N.V. purchased a new position in EchoStar Corporation (NASDAQ:SATS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,204 shares of the communications equipment provider's stock, valued at approximately $1,218,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. DLD Asset Management LP bought a new position in EchoStar in the third quarter worth approximately $2,481,700,000. Icahn Carl C bought a new position in EchoStar in the third quarter worth approximately $332,513,000. Contrarius Group Holdings Ltd bought a new position in EchoStar in the third quarter worth approximately $98,819,000. Junto Capital Management LP bought a new position in EchoStar in the third quarter worth approximately $55,199,000. Finally, Marshall Wace LLP bought a new position in EchoStar in the third quarter worth approximately $53,736,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Price Performance

Shares of NASDAQ SATS opened at $127.15 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $36.73 billion, a PE ratio of -2.53 and a beta of 0.95. The stock's fifty day simple moving average is $118.43 and its two-hundred day simple moving average is $104.79. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $137.44.

Analyst Ratings Changes

Several brokerages have issued reports on SATS. Weiss Ratings reiterated a "sell (d-)" rating on shares of EchoStar in a report on Monday, April 20th. UBS Group increased their target price on shares of EchoStar from $125.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, March 3rd. Zacks Research cut shares of EchoStar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Finally, Citigroup increased their target price on shares of EchoStar from $111.00 to $121.00 and gave the stock a "neutral" rating in a report on Tuesday, February 3rd. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $134.17.

Insider Transactions at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Swieringa sold 50,088 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the sale, the chief operating officer owned 253,535 shares in the company, valued at $28,796,505.30. This represents a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 55.70% of the stock is currently owned by company insiders.

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.

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