Venture Visionary Partners LLC Sells 11,725 Shares of EchoStar Corporation $SATS

Key Points

• Venture Visionary Partners LLC reduced its stake in EchoStar Corporation by 50% in the first quarter, owning 11,713 shares worth $300,000.
• Other institutional investors significantly increased their stakes, with Diameter Capital Partners LP raising its stake by 523.7% and Darsana Capital Partners LP by 133.3% in the fourth quarter.
• Citigroup raised its price target for EchoStar from $27.00 to $28.50, maintaining a "neutral" rating among analysts, with an average target price of $27.88.

Venture Visionary Partners LLC trimmed its stake in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,713 shares of the communications equipment provider's stock after selling 11,725 shares during the period. Venture Visionary Partners LLC's holdings in EchoStar were worth $300,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider's stock valued at $25,000 after acquiring an additional 975 shares in the last quarter. Fifth Third Bancorp raised its position in shares of EchoStar by 44.5% during the 1st quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider's stock valued at $47,000 after buying an additional 567 shares in the last quarter. State of Wyoming purchased a new stake in shares of EchoStar during the 4th quarter valued at about $47,000. GAMMA Investing LLC lifted its holdings in shares of 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 last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of EchoStar by 70,980.0% in the 1st quarter. Brooklyn Investment Group now owns 3,554 shares of the communications equipment provider's stock valued at $91,000 after acquiring an additional 3,549 shares during the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price target on shares of EchoStar from $27.00 to $28.50 and gave the company a "neutral" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.88.

EchoStar Trading Up 7.7%

Shares of SATS stock traded up $2.12 during trading hours on Friday, reaching $29.62. 2,309,242 shares of the stock were exchanged, compared to its average volume of 2,568,825. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $34.20. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. The company's 50-day moving average price is $28.34 and its 200-day moving average price is $25.51. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of -28.21 and a beta of 0.94.

EchoStar (NASDAQ:SATS - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, topping analysts' consensus estimates of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.80 billion. During the same period in the previous year, the company earned ($0.76) EPS. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current year.

EchoStar 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.