Intech Investment Management LLC Buys 38,131 Shares of EchoStar Corporation $SATS

Key Points

• Intech Investment Management LLC increased its stake in EchoStar Corporation by 49.1%, acquiring an additional 38,131 shares during the first quarter, bringing its total holdings to 115,835 shares valued at approximately $2.96 million.
• Several hedge funds also boosted their positions in EchoStar, including Northern Trust Corp, which raised its stake by 25.3%, and UBS AM, increasing its holdings by 8.1%.
• Analysts have varying ratings for EchoStar, with price targets ranging from $28.00 to $105.00, while the company's current consensus rating is a "Hold" with a target price of $63.90.

Intech Investment Management LLC lifted its stake in EchoStar Corporation (NASDAQ:SATS - Free Report) by 49.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,835 shares of the communications equipment provider's stock after purchasing an additional 38,131 shares during the quarter. Intech Investment Management LLC's holdings in EchoStar were worth $2,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Northern Trust Corp boosted its position in shares of EchoStar by 25.3% in the 1st quarter. Northern Trust Corp now owns 1,699,986 shares of the communications equipment provider's stock worth $43,486,000 after purchasing an additional 343,590 shares in the last quarter. Rhumbline Advisers boosted its position in shares of EchoStar by 4.7% in the 1st quarter. Rhumbline Advisers now owns 391,985 shares of the communications equipment provider's stock worth $10,027,000 after purchasing an additional 17,448 shares in the last quarter. Empowered Funds LLC boosted its position in shares of EchoStar by 13.1% in the 1st quarter. Empowered Funds LLC now owns 389,311 shares of the communications equipment provider's stock worth $9,959,000 after purchasing an additional 45,123 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of EchoStar by 8.1% in 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 purchasing an additional 24,749 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of EchoStar by 38.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 306,727 shares of the communications equipment provider's stock worth $7,024,000 after purchasing an additional 84,829 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

SATS has been the topic of a number of analyst reports. TD Cowen boosted their price target on EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Cowen reaffirmed a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. Morgan Stanley upped their price objective on EchoStar from $59.00 to $91.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 9th. Citigroup reaffirmed a "neutral" rating on shares of EchoStar in a research report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 price objective on EchoStar in a research report on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $63.90.

Insider Activity at EchoStar

In related news, COO John Swieringa sold 154,835 shares of the stock in a transaction dated 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 owned 432 shares of the company's stock, valued at approximately $35,078.40. This trade represents a 99.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Paul Gaske sold 45,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $80.25, for a total transaction of $3,611,250.00. Following the completion of the sale, the chief operating officer directly owned 1,593 shares of the company's stock, valued at approximately $127,838.25. The trade was a 96.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,589 shares of company stock valued at $17,563,544. Insiders own 55.90% of the company's stock.

EchoStar Trading Down 2.8%

Shares of SATS stock opened at $74.89 on Monday. EchoStar Corporation has a 52-week low of $14.90 and a 52-week high of $85.37. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market capitalization of $21.55 billion, a PE ratio of -71.32 and a beta of 0.99. The stock has a fifty day simple moving average of $39.94 and a two-hundred day simple moving average of $29.28.

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

EchoStar 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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