Marex Group plc Makes New Investment in EchoStar Corporation $SATS

Marex Group plc bought a new position in shares of EchoStar Corporation (NASDAQ:SATS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,188 shares of the communications equipment provider’s stock, valued at approximately $947,000.

A number of other institutional investors have also recently modified their holdings of the business. Darsana Capital Partners LP raised its position in EchoStar by 15.5% in the second quarter. Darsana Capital Partners LP now owns 8,960,000 shares of the communications equipment provider’s stock worth $248,192,000 after acquiring an additional 1,201,672 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of EchoStar by 11.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,449,193 shares of the communications equipment provider’s stock worth $95,553,000 after purchasing an additional 355,009 shares during the period. Northern Trust Corp grew its stake in shares of EchoStar by 25.3% during the 1st quarter. Northern Trust Corp now owns 1,699,986 shares of the communications equipment provider’s stock worth $43,486,000 after purchasing an additional 343,590 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of EchoStar by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,268,572 shares of the communications equipment provider’s stock valued at $35,139,000 after purchasing an additional 313,314 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of EchoStar by 30.1% in the second quarter. Invesco Ltd. now owns 913,292 shares of the communications equipment provider’s stock valued at $25,298,000 after purchasing an additional 211,421 shares during the period. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EchoStar news, COO John Swieringa sold 22,000 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $67.34, for a total value of $1,481,480.00. Following the completion of the transaction, the chief operating officer directly owned 283,509 shares in the company, valued at approximately $19,091,496.06. The trade was a 7.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 55.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SATS. TD Cowen upped their target price on shares of EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, October 8th. Zacks Research cut EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $82.00 to $110.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft set a $105.00 price target on EchoStar in a research report on Tuesday, September 9th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $79.40.

EchoStar Stock Performance

EchoStar stock opened at $107.37 on Monday. EchoStar Corporation has a fifty-two week low of $14.90 and a fifty-two week high of $109.53. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of -2.39 and a beta of 1.03. The stock has a fifty day moving average of $75.54 and a two-hundred day moving average of $52.77. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.56 and a current ratio of 0.61.

EchoStar (NASDAQ:SATS) last posted its quarterly earnings data on Thursday, November 6th. The communications equipment provider reported ($44.37) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($43.14). EchoStar had a negative net margin of 85.36% and a positive return on equity of 0.39%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business earned ($0.52) EPS. The firm’s revenue was down 7.1% on a year-over-year basis. On average, analysts anticipate that EchoStar Corporation will post -1.99 EPS for the current fiscal year.

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.