OMERS ADMINISTRATION Corp bought a new position in shares of EchoStar Co. (NASDAQ:SATS – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 122,200 shares of the communications equipment provider’s stock, valued at approximately $2,047,000. OMERS ADMINISTRATION Corp owned about 0.15% of EchoStar as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its stake in EchoStar by 126.6% during the second quarter. US Bancorp DE now owns 1,448 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 809 shares during the period. Russell Investments Group Ltd. purchased a new position in EchoStar during the first quarter worth approximately $34,000. Federated Hermes Inc. raised its stake in EchoStar by 95.0% during the third quarter. Federated Hermes Inc. now owns 2,827 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 1,377 shares during the period. Royal Bank of Canada raised its stake in EchoStar by 159.9% during the third quarter. Royal Bank of Canada now owns 2,888 shares of the communications equipment provider’s stock worth $48,000 after purchasing an additional 1,777 shares during the period. Finally, UBS Group AG raised its stake in EchoStar by 139.4% during the fourth quarter. UBS Group AG now owns 5,053 shares of the communications equipment provider’s stock worth $84,000 after purchasing an additional 2,942 shares during the period. Institutional investors and hedge funds own 97.19% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of EchoStar in a research note on Sunday. They set a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of EchoStar in a research note on Wednesday, January 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Raymond James cut their target price on shares of EchoStar from $54.00 to $37.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 7th. Finally, TheStreet downgraded shares of EchoStar from a “c” rating to a “d+” rating in a research note on Monday, November 6th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.
View Our Latest Analysis on EchoStar
EchoStar Price Performance
SATS opened at $12.67 on Friday. The company has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $14.79. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 11.41 and a beta of 0.68. EchoStar Co. has a twelve month low of $9.53 and a twelve month high of $24.80. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.41.
Insider Activity at EchoStar
In related news, Director C Mike Schroeder sold 3,020 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $12.29, for a total transaction of $37,115.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 59.10% of the company’s stock.
EchoStar Company Profile
EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.
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