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

Amalgamated Bank decreased its stake in EchoStar Co. (NASDAQ:SATS) by 3.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 35,651 shares of the communications equipment provider’s stock after selling 1,224 shares during the quarter. Amalgamated Bank’s holdings in EchoStar were worth $885,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Darsana Capital Partners LP acquired a new stake in EchoStar in the second quarter valued at approximately $36,908,000. Texas Permanent School Fund Corp boosted its position in EchoStar by 263.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 105,421 shares of the communications equipment provider’s stock valued at $1,502,000 after buying an additional 76,407 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of EchoStar during the second quarter valued at about $1,830,000. UniSuper Management Pty Ltd purchased a new stake in shares of EchoStar during the first quarter worth about $398,000. Finally, Vanguard Group Inc. lifted its stake in shares of EchoStar by 238.7% in the first quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock worth $195,338,000 after acquiring an additional 9,661,167 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

EchoStar Stock Up 2.2 %

Shares of NASDAQ:SATS opened at $21.99 on Friday. The company’s fifty day moving average is $24.79 and its two-hundred day moving average is $20.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.32 and a current ratio of 0.67. EchoStar Co. has a 1-year low of $9.53 and a 1-year high of $30.08. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of -2.40 and a beta of 0.70.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SATS shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a research report on Monday, August 12th. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. Morgan Stanley boosted their target price on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Finally, 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 report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.25.

Insider Buying and Selling at EchoStar

In other news, Chairman Charles W. Ergen purchased 1,551,355 shares of the stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the transaction, the chairman now owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 55.90% of the stock is currently owned by insiders.

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.