State Street Corp Increases Position in EchoStar Co. (NASDAQ:SATS)

State Street Corp lifted its position in shares of EchoStar Co. (NASDAQ:SATS) by 1.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,776,238 shares of the communications equipment provider’s stock after buying an additional 62,674 shares during the quarter. State Street Corp’s holdings in EchoStar were worth $118,546,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SATS. Nisa Investment Advisors LLC raised its holdings in EchoStar by 122.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 2,315 shares during the period. Louisiana State Employees Retirement System grew its position in shares of 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 in the last quarter. Bank of New York Mellon Corp raised its stake in EchoStar by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,001,832 shares of the communications equipment provider’s stock valued at $17,843,000 after purchasing an additional 29,577 shares during the period. Natixis Advisors LLC lifted its holdings in EchoStar by 24.4% in the 2nd 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 boosted its stake in EchoStar by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 390,077 shares of the communications equipment provider’s stock worth $6,947,000 after purchasing an additional 2,445 shares during the period. Institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Charles W. Ergen acquired 1,551,355 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the transaction, the chairman now directly owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 55.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen lowered their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research 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. According to MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average price target of $19.25.

EchoStar Price Performance

SATS stock opened at $23.34 on Friday. The company has a fifty day simple moving average of $24.56 and a two-hundred day simple moving average of $21.57. EchoStar Co. has a 52 week low of $11.83 and a 52 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 firm has a market capitalization of $6.34 billion, a P/E ratio of -2.55 and a beta of 0.69.

EchoStar Company 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.