EchoStar Co. (NASDAQ:SATS) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in EchoStar Co. (NASDAQ:SATS) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,425 shares of the communications equipment provider’s stock after selling 1,700 shares during the quarter. Swiss National Bank owned about 0.09% of EchoStar worth $6,116,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of EchoStar by 54.7% in 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 last quarter. Louisiana State Employees Retirement System increased 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 worth $1,081,000 after purchasing an additional 1,100 shares during the last quarter. Hexagon Capital Partners LLC raised 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 period. Natixis Advisors LLC boosted its holdings in 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew 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 buying an additional 2,176 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. UBS Group increased their price objective on shares of EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 price target on shares of EchoStar in a research report on Monday, August 12th. Finally, Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.25.

Insider Activity

In other news, Chairman Charles W. Ergen acquired 1,551,355 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost 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 in the company, valued at approximately $43,499,994.20. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 55.90% of the company’s stock.

EchoStar Price Performance

EchoStar stock opened at $24.87 on Wednesday. The company’s 50 day moving average is $24.88 and its two-hundred day moving average is $20.95. The firm has a market cap of $6.76 billion, a PE ratio of -2.72 and a beta of 0.70. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. 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.