Wealth High Governance Capital Ltda Invests $19.90 Million in EchoStar Corporation $SATS

Key Points

• Wealth High Governance Capital Ltda opened a new position in EchoStar, acquiring 183,079 shares valued at approximately $19.9 million, making SATS its sixth-largest holding and about 0.06% of the company.
• Company insiders executed sizable sales: CEO Hamid Akhavan sold 71,005 shares (~$7.63 million) and COO John Swieringa sold 50,088 shares (~$5.69 million), though insiders still own roughly 55.7% of EchoStar.
• EchoStar has a market cap of $34.6 billion, a negative P/E (-2.38) and high debt-to-equity (3.21); analysts' consensus rating is "Hold" with an average price target of $134.17.

Wealth High Governance Capital Ltda acquired a new position in shares of EchoStar Corporation (NASDAQ:SATS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 183,079 shares of the communications equipment provider's stock, valued at approximately $19,901,000. EchoStar comprises about 3.7% of Wealth High Governance Capital Ltda's holdings, making the stock its 6th biggest holding. Wealth High Governance Capital Ltda owned about 0.06% of EchoStar at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of EchoStar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider's stock valued at $672,000 after acquiring an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of EchoStar by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider's stock valued at $1,854,000 after acquiring an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of EchoStar by 8.1% in 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 valued at $8,479,000 after acquiring an additional 24,749 shares during the period. Strs Ohio acquired a new position in shares of EchoStar in the 1st quarter valued at $128,000. Finally, Hsbc Holdings PLC increased its holdings in shares of EchoStar by 18.6% in the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the communications equipment provider's stock valued at $377,000 after acquiring an additional 2,119 shares during the period. Hedge funds and other institutional investors own 33.62% of the company's stock.

EchoStar Stock Performance

Shares of SATS opened at $119.78 on Thursday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. The stock has a market capitalization of $34.60 billion, a P/E ratio of -2.38 and a beta of 1.00. The company's fifty day moving average is $117.44 and its two-hundred day moving average is $103.22. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $137.44.

Insider Buying and Selling at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the transaction, the chief executive officer directly owned 823,293 shares of the company's stock, valued at $88,520,463.36. This represents a 7.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Swieringa sold 50,088 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the transaction, the chief operating officer directly owned 253,535 shares in the company, valued at approximately $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 55.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. TD Cowen reaffirmed a "buy" rating on shares of EchoStar in a report on Wednesday, January 7th. Citigroup lifted their target price on shares of EchoStar from $111.00 to $121.00 and gave the company a "neutral" rating in a report on Tuesday, February 3rd. Zacks Research cut shares of EchoStar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. UBS Group boosted their price objective on shares of EchoStar from $125.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of EchoStar in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, EchoStar has an average rating of "Hold" and a consensus price target of $134.17.

EchoStar Profile

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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