EchoStar Co. (NASDAQ:SATS) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its position in shares of EchoStar Co. (NASDAQ:SATS) by 13.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,272 shares of the communications equipment provider’s stock after selling 10,741 shares during the period. Penserra Capital Management LLC’s holdings in EchoStar were worth $1,744,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in 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 buying an additional 1,466 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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. Gordian Capital Singapore Pte Ltd bought a new position in shares of EchoStar during the second quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EchoStar in the 3rd quarter worth about $165,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

EchoStar Stock Up 6.6 %

SATS opened at $24.41 on Tuesday. 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 has a market capitalization of $6.64 billion, a PE ratio of -2.66 and a beta of 0.70. The stock’s fifty day moving average is $24.92 and its 200-day moving average is $20.89. EchoStar Co. has a one year low of $10.18 and a one year high of $30.08.

Insider Buying and Selling

In other EchoStar news, Chairman Charles W. Ergen bought 1,551,355 shares of EchoStar stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the acquisition, the chairman now owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 55.90% of the stock is owned by corporate insiders.

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.