Rhumbline Advisers Increases Stock Holdings in EchoStar Corporation $SATS

Key Points

• Rhumbline Advisers increased its stake in EchoStar Corporation by 4.7%, acquiring an additional 17,448 shares during the 1st quarter, and now owns 391,985 shares valued at approximately $10.03 million.
• Major institutional investors including Northern Trust Corp and Deutsche Bank have significantly increased their holdings in EchoStar, indicating growing interest in the company among large investors.
• EchoStar's last earnings report revealed a loss of ($1.06) per share, which was better than analyst expectations of ($1.12), but the company also experienced a 5.8% decline in revenue year-over-year.

Rhumbline Advisers increased its stake in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,985 shares of the communications equipment provider's stock after buying an additional 17,448 shares during the quarter. Rhumbline Advisers owned 0.14% of EchoStar worth $10,027,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Northern Trust Corp grew its stake 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 acquiring an additional 343,590 shares in the last quarter. Deutsche Bank AG boosted its holdings in EchoStar by 325.3% during the fourth quarter. Deutsche Bank AG now owns 940,950 shares of the communications equipment provider's stock worth $21,548,000 after purchasing an additional 719,685 shares during the last quarter. Empowered Funds LLC grew its position in 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 lifted its position in shares of EchoStar by 8.1% during 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 buying an additional 24,749 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of EchoStar by 38.2% during 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 buying an additional 84,829 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at EchoStar

In related news, COO Paul Gaske sold 45,000 shares of the business's stock in a transaction on 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 sale, the chief operating officer directly owned 1,593 shares in the company, valued at approximately $127,838.25. The trade was a 96.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 55.90% of the company's stock.

EchoStar Price Performance

Shares of NASDAQ:SATS opened at $79.89 on Thursday. The firm has a market capitalization of $22.99 billion, a PE ratio of -76.09 and a beta of 0.99. 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 company has a 50-day moving average price of $38.11 and a two-hundred day moving average price of $28.64. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $85.37.

EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.06. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted ($0.76) earnings per share. Equities analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup reaffirmed a "neutral" rating on shares of EchoStar in a research report on Friday, August 29th. Morgan Stanley lifted their target price on EchoStar from $59.00 to $91.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $105.00 price target on shares of EchoStar in a report on Tuesday. TD Cowen raised 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. Finally, Cowen reaffirmed a "buy" rating on shares of EchoStar in a research report on Wednesday, August 27th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, EchoStar presently has a consensus rating of "Hold" and an average target price of $63.90.

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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