Bellwether Advisors LLC Makes New Investment in EchoStar Corporation $SATS

Key Points

• Bellwether Advisors LLC opened a new position in EchoStar during the fourth quarter, buying 33,052 shares valued at about $3.6 million.
• EchoStar reported quarterly EPS of ($0.51), missing expectations, while revenue of $3.67 billion slightly beat estimates. Analysts still expect the company to post -2.51 EPS for the current year.
• Analyst sentiment is mixed: New Street Research and TD Cowen both issued or reiterated Buy ratings with higher price targets, while the stock’s overall consensus remains Hold with a target price of $137.14.

Bellwether Advisors LLC bought a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,052 shares of the communications equipment provider's stock, valued at approximately $3,593,000.

Several other institutional investors have also modified their holdings of SATS. AQR Capital Management LLC raised its holdings in shares of EchoStar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider's stock worth $672,000 after acquiring an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of EchoStar by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider's stock worth $1,854,000 after acquiring an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of EchoStar by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider's stock worth $8,479,000 after acquiring an additional 24,749 shares during the period. Strs Ohio purchased a new position in shares of EchoStar during the 1st quarter worth $128,000. Finally, Hsbc Holdings PLC raised its holdings in shares of EchoStar by 18.6% during the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider's stock worth $377,000 after acquiring an additional 2,119 shares during the period. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Stock Down 0.9%

Shares of NASDAQ:SATS opened at $123.12 on Wednesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The firm has a market capitalization of $35.68 billion, a PE ratio of -2.46 and a beta of 0.95. The firm's 50-day moving average is $123.66 and its two-hundred day moving average is $110.05. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $147.25.

EchoStar (NASDAQ:SATS - Get Free Report) 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 analysts' consensus estimates 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 business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter last year, the company earned ($0.71) earnings per share. Analysts predict that EchoStar Corporation will post -2.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. New Street Research started coverage on EchoStar in a report on Wednesday, May 13th. They set a "buy" rating and a $161.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of EchoStar in a report on Monday, April 20th. TD Cowen boosted their price objective on shares of EchoStar from $129.00 to $155.00 and gave the company a "buy" rating in a report on Monday, May 18th. Citigroup boosted their price objective on shares of EchoStar from $111.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded shares of EchoStar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, EchoStar has an average rating of "Hold" and a consensus target price of $137.14.

Insider Transactions at EchoStar

In other news, COO John Swieringa sold 50,088 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 253,535 shares of the company's stock, valued at approximately $28,796,505.30. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hamid Akhavan sold 71,005 shares of the business's stock in a transaction dated 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 directly owned 823,293 shares of the company's stock, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.90% of the company's stock.

EchoStar Company 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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