KBC Group NV Buys 14,293 Shares of EchoStar Corporation $SATS

Key Points

• KBC Group NV boosted its stake in EchoStar by 355.9% in Q4, buying 14,293 shares to hold 18,309 shares worth about $1.99 million.
• Major insider selling occurred recently: COO John Swieringa sold 50,088 shares at $113.58 (~$5.69M) and CEO Hamid Akhavan sold 71,005 shares at $107.52 (~$7.63M), reducing their positions; insiders still own 55.70% of the stock.
• EchoStar (SATS) opened at $135.11 near its 52-week high of $137.44, has a market cap of $39.03B, and carries mixed analyst coverage (3 Buy, 3 Hold, 1 Sell) with a consensus rating of Hold and a $134.17 target price.

KBC Group NV increased its stake in EchoStar Corporation (NASDAQ:SATS - Free Report) by 355.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,309 shares of the communications equipment provider's stock after acquiring an additional 14,293 shares during the period. KBC Group NV's holdings in EchoStar were worth $1,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp lifted its stake in shares of EchoStar by 11.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,665 shares of the communications equipment provider's stock valued at $127,000 after acquiring an additional 167 shares during the last quarter. CoreCap Advisors LLC purchased a new position in EchoStar during the 4th quarter valued at about $28,000. Rosenberg Matthew Hamilton purchased a new position in EchoStar during the 4th quarter valued at about $29,000. Amalgamated Bank increased its holdings in EchoStar by 0.5% during the 3rd quarter. Amalgamated Bank now owns 58,941 shares of the communications equipment provider's stock valued at $4,501,000 after purchasing an additional 293 shares during the period. Finally, Voya Investment Management LLC increased its holdings in EchoStar by 0.8% during the 3rd quarter. Voya Investment Management LLC now owns 37,456 shares of the communications equipment provider's stock valued at $2,860,000 after purchasing an additional 298 shares during the period. Institutional investors own 33.62% of the company's stock.

Insider Buying and Selling

In other EchoStar news, COO John Swieringa sold 50,088 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer owned 253,535 shares in the company, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hamid Akhavan sold 71,005 shares of the company's stock in a transaction that occurred on 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 owned 823,293 shares in the company, valued at $88,520,463.36. This trade represents a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.70% of the stock is currently owned by corporate insiders.

EchoStar Stock Up 1.4%

SATS stock opened at $135.11 on Tuesday. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $137.44. The business's 50 day moving average price is $116.23 and its two-hundred day moving average price is $101.17. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. The company has a market capitalization of $39.03 billion, a price-to-earnings ratio of -2.69 and a beta of 1.00.

Wall Street Analysts Forecast Growth

SATS has been the topic of a number of research analyst reports. UBS Group boosted their price target on EchoStar from $125.00 to $127.00 and gave the company a "neutral" rating in a report on Tuesday, March 3rd. Williams Trading set a $158.00 price target on EchoStar in a report on Wednesday, January 7th. TD Cowen restated a "buy" rating on shares of EchoStar in a report on Wednesday, January 7th. Weiss Ratings restated a "sell (d-)" rating on shares of EchoStar in a report on Wednesday, January 21st. Finally, Zacks Research downgraded EchoStar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, EchoStar currently has a consensus rating of "Hold" and a consensus target price of $134.17.

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.

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