11,425 Shares in EchoStar Corporation $SATS Bought by Revisor Wealth Management LLC

Key Points

• Revisor Wealth Management LLC purchased 11,425 shares of EchoStar Corporation for about $316,000, indicating growing interest in the company's stock.
• Multiple institutional investors have significantly increased their stakes in EchoStar, with some reporting gains as high as 70,980.0% in their holdings during the last quarter.
• Wall Street analysts have raised their price targets for EchoStar, with Citigroup increasing theirs from $67 to $85, reflecting confidence in the company's potential growth.

Revisor Wealth Management LLC acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,425 shares of the communications equipment provider's stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SATS. Farther Finance Advisors LLC grew its position in EchoStar by 8,125.0% during the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 975 shares during the last quarter. Fifth Third Bancorp grew its position in EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock worth $47,000 after acquiring an additional 567 shares during the last quarter. State of Wyoming bought a new stake in EchoStar during the 4th quarter worth $47,000. GAMMA Investing LLC grew its position in EchoStar by 39.6% during the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock worth $88,000 after acquiring an additional 976 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in EchoStar by 70,980.0% during the 1st 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 during the last quarter. Institutional investors own 33.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SATS. Citigroup upped their price target on EchoStar from $67.00 to $85.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley upped their price target on EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. TD Cowen upped their price target on EchoStar from $28.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a research report on Tuesday, September 9th. Finally, Cowen reiterated a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $75.20.

EchoStar Stock Performance

Shares of EchoStar stock opened at $73.64 on Wednesday. The company has a market cap of $21.19 billion, a PE ratio of -70.13 and a beta of 0.98. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $85.37. The business has a 50 day moving average price of $45.64 and a 200-day moving average price of $31.32. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28.

EchoStar (NASDAQ:SATS - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.06. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) earnings per share. Equities analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Paul Gaske sold 750 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $78.32, for a total value of $58,740.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Swieringa sold 154,835 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly owned 432 shares of the company's stock, valued at approximately $35,078.40. This represents a 99.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 460,740 shares of company stock valued at $35,967,480. 55.70% of the stock is 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.

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