EchoStar Corporation $SATS Shares Acquired by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC increased its holdings in EchoStar Corporation by 7.3% during the second quarter, owning 66,731 shares valued at approximately $1.85 million.
• Multiple institutional investors, including GAMMA Investing LLC and Amalgamated Bank, have also significantly increased their positions in EchoStar, contributing to a total institutional ownership of 33.62%.
• Following a recent evaluation, Zacks Research upgraded EchoStar's stock rating from "hold" to "strong-buy," while the stock has an average target price of $75.20 based on recent analyst reviews.

Mutual of America Capital Management LLC grew its position in EchoStar Corporation (NASDAQ:SATS - Free Report) by 7.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,731 shares of the communications equipment provider's stock after acquiring an additional 4,546 shares during the period. Mutual of America Capital Management LLC's holdings in EchoStar were worth $1,848,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SATS. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 976 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of EchoStar during the 1st quarter worth about $175,000. Amalgamated Bank raised its position in shares of EchoStar by 50.3% during the 1st quarter. Amalgamated Bank now owns 53,287 shares of the communications equipment provider's stock worth $1,363,000 after purchasing an additional 17,830 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of EchoStar during the 1st quarter worth about $850,000. Finally, New Mexico Educational Retirement Board acquired a new position in shares of EchoStar during the 1st quarter worth about $634,000. Institutional investors and hedge funds own 33.62% of the company's stock.

Insider Buying and Selling at EchoStar

In other EchoStar news, COO Paul Gaske sold 750 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $78.32, for a total transaction of $58,740.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John Swieringa sold 154,835 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $81.20, for a total transaction of $12,572,602.00. Following the completion of the sale, the chief operating officer owned 432 shares in the company, valued at $35,078.40. The trade was a 99.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 460,740 shares of company stock valued at $35,967,480 in the last quarter. Corporate insiders own 55.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research raised shares of EchoStar from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. TD Cowen upped their price objective on shares of EchoStar from $28.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Citigroup raised shares of EchoStar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 9th. Morgan Stanley upped their price objective on shares of EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EchoStar in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.20.

EchoStar Stock Performance

Shares of SATS stock opened at $74.12 on Friday. The firm's 50 day moving average price is $66.89 and its 200-day moving average price is $39.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. EchoStar Corporation has a one year low of $14.90 and a one year high of $85.37. The firm has a market cap of $21.33 billion, a P/E ratio of -70.59 and a beta of 0.96.

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 for the quarter, compared to analyst estimates of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.76) EPS. As a group, equities research analysts predict that EchoStar Corporation will post -1.99 EPS for the current year.

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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