State Street Corp Buys 62,674 Shares of EchoStar Co. (NASDAQ:SATS)

State Street Corp boosted its stake in EchoStar Co. (NASDAQ:SATS - Free Report) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,776,238 shares of the communications equipment provider's stock after purchasing an additional 62,674 shares during the quarter. State Street Corp owned about 1.76% of EchoStar worth $118,546,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in EchoStar by 122.9% in the second 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 period. Louisiana State Employees Retirement System increased its holdings in shares of EchoStar by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider's stock worth $1,081,000 after acquiring an additional 1,100 shares during the period. Bank of New York Mellon Corp boosted its position in shares of EchoStar by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,001,832 shares of the communications equipment provider's stock worth $17,843,000 after buying an additional 29,577 shares during the period. Natixis Advisors LLC grew its stake in shares of EchoStar by 24.4% in the second quarter. Natixis Advisors LLC now owns 19,848 shares of the communications equipment provider's stock worth $353,000 after purchasing an additional 3,893 shares in the last quarter. Finally, Rhumbline Advisers grew its position in EchoStar by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 390,077 shares of the communications equipment provider's stock valued at $6,947,000 after buying an additional 2,445 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

EchoStar Stock Performance

SATS traded down $0.09 during trading on Friday, reaching $23.34. 1,358,237 shares of the company's stock were exchanged, compared to its average volume of 1,602,752. 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 company has a market capitalization of $6.34 billion, a P/E ratio of -2.55 and a beta of 0.69. EchoStar Co. has a fifty-two week low of $11.83 and a fifty-two week high of $30.08. The business has a 50 day moving average price of $24.56 and a 200 day moving average price of $21.60.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SATS shares. Morgan Stanley boosted their price objective on EchoStar from $14.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, September 13th. TD Cowen decreased 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, November 13th. StockNews.com upgraded shares of EchoStar to a "sell" rating in a research note on Saturday, November 9th. Finally, Raymond James lowered shares of EchoStar from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Two research 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. Based on data from MarketBeat.com, EchoStar presently has an average rating of "Hold" and a consensus target price of $19.25.

Insider Activity at EchoStar

In other news, Chairman Charles W. Ergen purchased 1,551,355 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the acquisition, the chairman now owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 55.90% of the company's stock.

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.