Intech Investment Management LLC Purchases New Position in EchoStar Co. (NASDAQ:SATS)

Intech Investment Management LLC purchased a new stake in shares of EchoStar Co. (NASDAQ:SATS) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 26,216 shares of the communications equipment provider’s stock, valued at approximately $651,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of EchoStar by 125.3% during the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 802 shares during the period. Hexagon Capital Partners LLC increased its holdings in EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 1,466 shares during the period. Nisa Investment Advisors LLC lifted its position 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 purchasing an additional 2,315 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of EchoStar in the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC acquired a new stake in EchoStar during the third quarter worth about $165,000. 33.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SATS. StockNews.com upgraded EchoStar to a “sell” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. UBS Group boosted their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Finally, TD Cowen cut their price objective on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.25.

EchoStar Trading Up 1.0 %

Shares of EchoStar stock opened at $25.29 on Friday. EchoStar Co. has a 1 year low of $10.21 and a 1 year high of $30.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The company’s fifty day moving average is $24.81 and its two-hundred day moving average is $21.14. The company has a market capitalization of $6.87 billion, a P/E ratio of -2.76 and a beta of 0.70.

Insider Activity

In related news, Chairman Charles W. Ergen bought 1,551,355 shares of EchoStar stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the purchase, the chairman now owns 1,551,355 shares in the company, valued at $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.