Danske Bank A S Has $5.53 Million Position in EchoStar Corporation $SATS

Key Points

• Danske Bank A/S boosted its stake in EchoStar by 4,141.7% in Q4 to 50,900 shares, worth $5.533 million as of the latest SEC filing.
• Company insiders have been sellers recently — CEO Hamid Akhavan sold 71,005 shares (~$7.63M) and COO John Swieringa sold 50,088 shares (~$5.69M) — and insiders now own 55.70% of the stock.
• Analysts' consensus is a "Hold" with a $134.17 target; EchoStar trades around $120, has a market cap of $34.76B and a negative P/E of -2.39.

Danske Bank A S grew its holdings in EchoStar Corporation (NASDAQ:SATS - Free Report) by 4,141.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,900 shares of the communications equipment provider's stock after purchasing an additional 49,700 shares during the quarter. Danske Bank A S's holdings in EchoStar were worth $5,533,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SATS. DLD Asset Management LP acquired a new stake in shares of EchoStar in the third quarter valued at about $2,481,700,000. Icahn Carl C acquired a new stake in shares of EchoStar in the third quarter valued at about $332,513,000. Contrarius Group Holdings Ltd acquired a new stake in shares of EchoStar in the third quarter valued at about $98,819,000. Junto Capital Management LP acquired a new stake in shares of EchoStar in the third quarter valued at about $55,199,000. Finally, Marshall Wace LLP acquired a new stake in shares of EchoStar in the third quarter valued at about $53,736,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SATS shares. UBS Group raised their price target on EchoStar from $125.00 to $127.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. Zacks Research cut shares of EchoStar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Citigroup increased their target price on shares of 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 $158.00 target price on shares of EchoStar in a research note on Wednesday, January 7th. Finally, TD Cowen reiterated a "buy" rating on shares of EchoStar in a research note on Wednesday, January 7th. Three 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 company's stock. Based on data from MarketBeat.com, EchoStar has an average rating of "Hold" and a consensus target price of $134.17.

EchoStar Stock Down 2.3%

Shares of SATS opened at $120.34 on Tuesday. The stock has a market cap of $34.76 billion, a price-to-earnings ratio of -2.39 and a beta of 0.95. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 3.21. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $137.44. The company has a 50-day moving average price of $117.61 and a two-hundred day moving average price of $103.76.

Insider Transactions at EchoStar

In other EchoStar 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 transaction of $7,634,457.60. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Swieringa sold 50,088 shares of the firm'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 transaction, the chief operating officer owned 253,535 shares of the company's stock, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.70% of the stock is 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.

Want to see what other hedge funds are holding SATS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EchoStar Corporation (NASDAQ:SATS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.