Principal Financial Group Inc. cut its position in EchoStar Co. (NASDAQ:SATS - Free Report) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 568,991 shares of the communications equipment provider's stock after selling 25,771 shares during the quarter. Principal Financial Group Inc. owned 0.21% of EchoStar worth $14,122,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in EchoStar by 54.7% in the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider's stock valued at $55,000 after acquiring an additional 789 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider's stock valued at $1,081,000 after purchasing an additional 1,100 shares during the last quarter. Hexagon Capital Partners LLC increased its position in EchoStar by 694.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 1,466 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in EchoStar by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider's stock valued at $1,240,000 after purchasing an additional 2,176 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider's stock valued at $75,000 after purchasing an additional 2,315 shares during the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on SATS. StockNews.com raised shares of EchoStar to a "sell" rating in a research note on Saturday, November 9th. Morgan Stanley upped their target price on EchoStar from $14.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, September 13th. TD Cowen dropped their target price on EchoStar from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group boosted their price target on EchoStar from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.25.
Get Our Latest Research Report on EchoStar
Insider Transactions at EchoStar
In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the transaction, the chairman now owns 1,551,355 shares of the company's stock, valued at $43,499,994.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 55.90% of the stock is owned by corporate insiders.
EchoStar Price Performance
Shares of SATS opened at $22.79 on Friday. The stock's 50-day moving average price is $24.79 and its two-hundred day moving average price is $20.62. EchoStar Co. has a 12 month low of $9.53 and a 12 month high of $30.08. The company has a quick ratio of 0.32, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.
EchoStar Company Profile
(
Free Report)
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.
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