Intech Investment Management LLC Takes Position in EchoStar Co. (NASDAQ:SATS)

Intech Investment Management LLC purchased a new position in shares of EchoStar Co. (NASDAQ:SATS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,216 shares of the communications equipment provider's stock, valued at approximately $651,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SATS. Natixis Advisors LLC increased its position in EchoStar by 9.8% in the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider's stock worth $541,000 after purchasing an additional 1,942 shares during the last quarter. Empowered Funds LLC lifted its stake in EchoStar by 5.4% in the third quarter. Empowered Funds LLC now owns 324,416 shares of the communications equipment provider's stock valued at $8,052,000 after acquiring an additional 16,595 shares during the last quarter. Victory Capital Management Inc. grew its position in EchoStar by 11.0% in the third quarter. Victory Capital Management Inc. now owns 46,767 shares of the communications equipment provider's stock worth $1,161,000 after acquiring an additional 4,626 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of EchoStar during the 3rd quarter worth $285,000. Finally, Creative Planning raised its holdings in shares of EchoStar by 42.1% during the 3rd quarter. Creative Planning now owns 35,395 shares of the communications equipment provider's stock valued at $878,000 after purchasing an additional 10,491 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EchoStar

In other EchoStar news, Chairman Charles W. Ergen purchased 1,551,355 shares of the stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the acquisition, the chairman now directly owns 1,551,355 shares of the company's stock, valued at $43,499,994.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 55.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SATS has been the topic of several recent research reports. JPMorgan Chase & Co. restated an "underweight" rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. Raymond James cut EchoStar from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of EchoStar from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. StockNews.com raised shares of EchoStar to a "sell" rating in a report on Saturday, November 9th. Finally, Morgan Stanley raised their target price on shares of EchoStar from $14.00 to $20.00 and gave the company an "equal weight" rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, EchoStar has a consensus rating of "Hold" and a consensus price target of $19.25.

EchoStar Stock Performance

Shares of SATS stock traded up $0.26 during trading hours on Friday, reaching $25.29. 636,427 shares of the company's stock were exchanged, compared to its average volume of 2,138,773. EchoStar Co. has a fifty-two week low of $10.21 and a fifty-two week 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 stock has a market capitalization of $6.87 billion, a P/E ratio of -2.76 and a beta of 0.70. The business has a fifty day moving average price of $24.81 and a 200-day moving average price of $21.17.

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.