EchoStar Co. (NASDAQ:SATS) Shares Sold by Goldentree Asset Management LP

Goldentree Asset Management LP cut its holdings in shares of EchoStar Co. (NASDAQ:SATS - Free Report) by 74.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,957 shares of the communications equipment provider's stock after selling 648,093 shares during the period. Goldentree Asset Management LP owned about 0.08% of EchoStar worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider's stock valued at $26,000 after purchasing an additional 802 shares during the period. Hexagon Capital Partners LLC lifted its position in EchoStar by 694.8% during the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider's stock worth $30,000 after buying an additional 1,466 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of EchoStar by 122.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider's stock worth $75,000 after acquiring an additional 2,315 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of EchoStar during the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC purchased a new stake in shares of EchoStar in the third quarter valued at about $165,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on SATS shares. TD Cowen reduced their target price on shares of EchoStar from $37.00 to $30.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley upped their price objective on EchoStar from $14.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, September 13th. UBS Group increased their price objective on EchoStar from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. StockNews.com upgraded EchoStar to a "sell" rating in a research report on Saturday, November 9th. Finally, Raymond James cut EchoStar from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.25.

Insider Buying and Selling

In other news, Chairman Charles W. Ergen purchased 1,551,355 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the acquisition, the chairman now directly owns 1,551,355 shares of the company's stock, valued at approximately $43,499,994.20. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 55.90% of the stock is owned by insiders.

EchoStar Trading Up 1.0 %

NASDAQ:SATS traded up $0.26 during trading hours on Friday, reaching $25.29. 636,427 shares of the stock were exchanged, compared to its average volume of 1,813,395. EchoStar Co. has a twelve month low of $10.21 and a twelve month high of $30.08. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average of $24.81 and a two-hundred day moving average of $21.14. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -2.76 and a beta of 0.70.

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.