FORA Capital LLC Invests $3.70 Million in EchoStar Corporation $SATS

Key Points

• FORA Capital LLC acquired a new stake of 48,500 shares in EchoStar (NASDAQ:SATS) valued at about $3.70 million in Q3, while other institutions made large moves—most notably DLD Asset Management's new stake valued at roughly $2.48 billion—bringing institutional ownership to about 33.62%.
• Company insiders have been selling: COO John Swieringa sold 50,088 shares (~$5.69M) and CEO Hamid Akhavan sold 71,005 shares (~$7.63M), reducing insider ownership to approximately 55.90%.
• EchoStar has a market cap of $31.19 billion and a negative P/E of -2.15, a 12‑month range of $14.90–$132.25, and analysts hold a consensus "Hold" rating with an average target price of $134.17.

FORA Capital LLC acquired a new stake in EchoStar Corporation (NASDAQ:SATS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 48,500 shares of the communications equipment provider's stock, valued at approximately $3,703,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SATS. DLD Asset Management LP bought a new stake in EchoStar during the third quarter worth $2,481,700,000. Darsana Capital Partners LP grew its position in shares of EchoStar by 15.5% in the 2nd quarter. Darsana Capital Partners LP now owns 8,960,000 shares of the communications equipment provider's stock valued at $248,192,000 after acquiring an additional 1,201,672 shares during the period. Geode Capital Management LLC increased its stake in shares of EchoStar by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,449,193 shares of the communications equipment provider's stock worth $95,553,000 after purchasing an additional 355,009 shares during the last quarter. Contrarius Group Holdings Ltd bought a new stake in shares of EchoStar in the 3rd quarter valued at about $98,819,000. Finally, Bank of New York Mellon Corp lifted its stake in EchoStar by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,268,572 shares of the communications equipment provider's stock valued at $35,139,000 after purchasing an additional 313,314 shares during the last quarter. 33.62% of the stock is owned by institutional investors.

EchoStar Price Performance

EchoStar stock opened at $108.34 on Friday. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of -2.15 and a beta of 1.01. The stock's 50 day moving average is $115.52 and its 200-day moving average is $91.74. The company has a current ratio of 0.42, a quick ratio of 0.38 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 $132.25.

Analyst Ratings Changes

SATS has been the topic of a number of recent analyst reports. Citigroup boosted their price target on EchoStar from $111.00 to $121.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 3rd. Williams Trading set a $158.00 price objective on EchoStar in a research report on Wednesday, January 7th. UBS Group lifted their target price on EchoStar from $125.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 3rd. Morgan Stanley upgraded EchoStar from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $82.00 to $110.00 in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EchoStar in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $134.17.

Insider Buying and Selling at EchoStar

In other news, COO John Swieringa sold 50,088 shares of EchoStar stock in a transaction on 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 sale, the chief operating officer owned 253,535 shares of the company's stock, valued at approximately $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the business'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 sale, the chief executive officer directly owned 823,293 shares of the company's stock, valued at approximately $88,520,463.36. The trade was a 7.94% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by company insiders.

About EchoStar

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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