Charles W. Ergen Buys 1,551,355 Shares of EchoStar Co. (NASDAQ:SATS) Stock

EchoStar Co. (NASDAQ:SATS) Chairman Charles W. Ergen purchased 1,551,355 shares of EchoStar stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

EchoStar Trading Up 2.2 %

Shares of EchoStar stock traded up $0.47 during midday trading on Thursday, reaching $21.99. The company had a trading volume of 3,761,005 shares, compared to its average volume of 1,799,453. EchoStar Co. has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.32. The stock has a fifty day moving average price of $24.79 and a 200 day moving average price of $20.53. The firm has a market cap of $5.97 billion, a PE ratio of -2.35 and a beta of 0.70.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SATS. GAMMA Investing LLC increased its position in shares of EchoStar by 125.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 1,466 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of EchoStar by 122.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 2,315 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in EchoStar during the second quarter worth approximately $89,000. Finally, SG Americas Securities LLC bought a new position in shares of EchoStar during the third quarter valued at approximately $165,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. TD Cowen reduced their price objective on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley raised their price objective 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, EchoStar currently has an average rating of “Hold” and a consensus target price of $19.25.

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.