Charles Schwab Investment Management Inc. Sells 568,380 Shares of EchoStar Co. (NASDAQ:SATS)

Charles Schwab Investment Management Inc. decreased its position in shares of EchoStar Co. (NASDAQ:SATS) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,041,535 shares of the communications equipment provider’s stock after selling 568,380 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.12% of EchoStar worth $75,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of EchoStar by 54.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 789 shares during the period. Louisiana State Employees Retirement System raised its position in EchoStar by 1.8% during the second 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 in the last quarter. Hexagon Capital Partners LLC lifted its stake 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 purchasing an additional 1,466 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of EchoStar by 9.8% in the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock valued at $541,000 after purchasing an additional 1,942 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of 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. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Charles W. Ergen purchased 1,551,355 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 55.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SATS shares. UBS Group upped 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. TD Cowen reduced their price target 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 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 report on Friday, September 13th. Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised EchoStar to a “sell” rating in a report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, EchoStar has an average rating of “Hold” and an average price target of $19.25.

EchoStar Price Performance

SATS stock opened at $25.03 on Thursday. The company has a market capitalization of $6.80 billion, a P/E ratio of -2.73 and a beta of 0.70. The company has a fifty day moving average price of $24.86 and a 200-day moving average price of $21.02. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar Co. has a 52-week low of $10.18 and a 52-week high of $30.08.

About EchoStar

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.