Kingstone Capital Partners Texas LLC Makes New Investment in EchoStar Corporation $SATS

Key Points

• Kingstone Capital Partners Texas LLC purchased a new stake in EchoStar Corporation, acquiring 344,424 shares valued at approximately $9.54 million, representing a 0.12% ownership in the company.
• Several hedge funds, including Amalgamated Bank and Quarry LP, have significantly increased their holdings in EchoStar during the first quarter, indicating growing investor interest.
• Analysts have varied ratings for EchoStar, with Morgan Stanley raising its target price from $59.00 to $91.00, whereas the consensus rating remains a "Hold" with an average price target of $63.90.

Kingstone Capital Partners Texas LLC acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 344,424 shares of the communications equipment provider's stock, valued at approximately $9,541,000. Kingstone Capital Partners Texas LLC owned 0.12% of EchoStar as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of EchoStar by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,283 shares of the communications equipment provider's stock valued at $1,587,000 after buying an additional 2,712 shares during the period. ProShare Advisors LLC lifted its position in shares of EchoStar by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 36,670 shares of the communications equipment provider's stock worth $840,000 after purchasing an additional 11,294 shares during the period. State of Wyoming acquired a new position in shares of EchoStar during the 4th quarter valued at $47,000. Two Sigma Advisers LP purchased a new stake in shares of EchoStar in the fourth quarter valued at about $414,000. Finally, Woodline Partners LP bought a new position in EchoStar during the fourth quarter valued at about $524,000. Institutional investors and hedge funds own 33.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SATS. Morgan Stanley upped their price objective on EchoStar from $59.00 to $91.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 9th. Cowen reissued a "buy" rating on shares of EchoStar in a research note on Wednesday, August 27th. TD Cowen lifted their target price on shares of EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Citigroup reiterated a "neutral" rating on shares of EchoStar in a report on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 price target on shares of EchoStar in a report on Tuesday, September 9th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.90.

Insider Transactions at EchoStar

In related news, COO John Swieringa sold 154,835 shares of the company's stock in a transaction on 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 directly owned 432 shares of the company's stock, valued at approximately $35,078.40. This represents a 99.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Paul Gaske sold 750 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $78.32, for a total transaction of $58,740.00. The disclosure for this sale can be found here. Insiders sold 460,740 shares of company stock valued at $35,967,480 in the last ninety days. 55.70% of the stock is owned by corporate insiders.

EchoStar Stock Up 1.8%

Shares of SATS traded up $1.25 during midday trading on Friday, reaching $72.47. 7,025,412 shares of the company were exchanged, compared to its average volume of 9,797,670. The stock has a 50-day moving average price of $43.90 and a 200-day moving average price of $30.71. The company has a market cap of $20.85 billion, a price-to-earnings ratio of -69.02 and a beta of 0.98. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $85.37. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

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