M&T Bank Corp Acquires 189,980 Shares of EchoStar Corporation $SATS

M&T Bank Corp raised its holdings in EchoStar Corporation (NASDAQ:SATS - Free Report) by 3,009.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,292 shares of the communications equipment provider's stock after purchasing an additional 189,980 shares during the quarter. M&T Bank Corp owned 0.07% of EchoStar worth $22,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of SATS. Deseret Mutual Benefit Administrators bought a new position in shares of EchoStar during the 3rd quarter valued at approximately $28,000. CoreCap Advisors LLC bought a new position in shares of EchoStar during the 4th quarter valued at approximately $28,000. Rosenberg Matthew Hamilton bought a new position in shares of EchoStar during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of EchoStar during the 3rd quarter valued at approximately $38,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of EchoStar during the 4th quarter valued at approximately $62,000. Institutional investors own 33.62% of the company's stock.

Analyst Upgrades and Downgrades

SATS has been the subject of a number of research reports. Citigroup increased their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a "neutral" rating in a research report on Tuesday, February 3rd. Williams Trading set a $158.00 price target on EchoStar in a research note on Wednesday, January 7th. UBS Group increased their price target on EchoStar from $125.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 3rd. Zacks Research downgraded EchoStar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of EchoStar in a research note on Monday. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EchoStar presently has an average rating of "Hold" and an average price target of $134.17.

Insider Buying and Selling at EchoStar

In related news, CEO Hamid Akhavan sold 71,005 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. The trade was a 7.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John Swieringa sold 50,088 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total value of $5,688,995.04. Following the sale, the chief operating officer directly owned 253,535 shares in the company, valued at $28,796,505.30. This trade represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is currently owned by insiders.

EchoStar Stock Down 0.7%

SATS opened at $121.52 on Friday. The company has a 50 day moving average of $116.86 and a 200 day moving average of $101.79. The company has a market cap of $35.10 billion, a PE ratio of -2.42 and a beta of 1.00. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $137.44. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 3.21.

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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