Moment Partners LLC Acquires 9,130 Shares of EchoStar Corporation $SATS

Key Points

• Moment Partners LLC significantly increased its stake in EchoStar Corporation by 100.1%, acquiring an additional 9,130 shares to bring its total holdings to 18,252 shares, valued at approximately $506,000.
• Several institutional investors, including Farther Finance Advisors LLC and Amalgamated Bank, made substantial adjustments to their positions in EchoStar, which is now 33.62% owned by institutional investors and hedge funds.
• Analyst opinions on EchoStar have shifted positively, with a consensus rating of "Moderate Buy" and forecasts suggesting a price target around $75.20, following upgrades from multiple research firms.

Moment Partners LLC boosted its holdings in EchoStar Corporation (NASDAQ:SATS - Free Report) by 100.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,252 shares of the communications equipment provider's stock after purchasing an additional 9,130 shares during the period. Moment Partners LLC's holdings in EchoStar were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in EchoStar by 8,125.0% in the 1st quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 975 shares in the last quarter. GAMMA Investing LLC increased its position in EchoStar by 39.6% in the 1st quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 976 shares during the period. Retirement Systems of Alabama acquired a new stake in shares of EchoStar during the first quarter worth $3,762,000. Asset Management One Co. Ltd. bought a new position in EchoStar during the first quarter worth $175,000. Finally, Amalgamated Bank increased its stake in EchoStar by 50.3% during the 1st quarter. Amalgamated Bank now owns 53,287 shares of the communications equipment provider's stock valued at $1,363,000 after purchasing an additional 17,830 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SATS. Cowen reissued a "buy" rating on shares of EchoStar in a research report 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. Zacks Research upgraded shares of EchoStar from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a report on Tuesday, September 9th. Finally, TD Cowen boosted their price objective on shares of EchoStar from $28.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.20.

Insider Activity at EchoStar

In other EchoStar news, COO John Swieringa sold 154,835 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer owned 432 shares in the company, valued at approximately $35,078.40. This represents a 99.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Q. Abernathy sold 16,754 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $82.35, for a total transaction of $1,379,691.90. The disclosure for this sale can be found here. Insiders have sold a total of 460,740 shares of company stock worth $35,967,480 over the last quarter. 55.90% of the stock is currently owned by insiders.

EchoStar Trading Up 1.7%

NASDAQ:SATS opened at $74.26 on Friday. The company has a fifty day moving average of $65.97 and a 200 day moving average of $38.77. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $85.37. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $21.37 billion, a P/E ratio of -70.63 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.12) by $0.06. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.80 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.76) EPS. On average, research analysts predict 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.

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