Evergreen Capital Management LLC Purchases 514,610 Shares of EchoStar Corporation $SATS

Evergreen Capital Management LLC grew its position in shares of EchoStar Corporation (NASDAQ:SATS) by 6,942.9% in the third quarter, Holdings Channel reports. The firm owned 522,022 shares of the communications equipment provider’s stock after purchasing an additional 514,610 shares during the period. EchoStar comprises approximately 0.9% of Evergreen Capital Management LLC’s holdings, making the stock its 16th biggest position. Evergreen Capital Management LLC’s holdings in EchoStar were worth $39,862,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SATS. Farther Finance Advisors LLC grew its position in EchoStar by 593.2% during the third quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 789 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of EchoStar during the 2nd quarter valued at about $73,000. Strs Ohio bought a new stake in shares of EchoStar during the 1st quarter valued at about $128,000. AlphaQuest LLC purchased a new position in shares of EchoStar during the second quarter worth about $130,000. Finally, Nisa Investment Advisors LLC increased its position in shares of EchoStar by 16.6% in the second quarter. Nisa Investment Advisors LLC now owns 5,235 shares of the communications equipment provider’s stock worth $145,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 33.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Williams Trading set a $158.00 target price on shares of EchoStar in a research report on Wednesday, January 7th. Citigroup increased their target price on EchoStar from $87.00 to $111.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. UBS Group lifted their price target on EchoStar from $28.00 to $125.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Finally, Morgan Stanley upgraded EchoStar from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $82.00 to $110.00 in a research report on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $132.17.

EchoStar Stock Performance

NASDAQ SATS opened at $123.27 on Friday. The company has a 50-day simple moving average of $94.54 and a two-hundred day simple moving average of $68.08. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $132.25. The firm has a market cap of $35.49 billion, a price-to-earnings ratio of -2.75 and a beta of 1.02. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 3.11.

EchoStar (NASDAQ:SATS) last released its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share 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 during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the firm posted ($0.52) EPS. The company’s revenue was down 7.1% on a year-over-year basis. On average, equities analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

Insider Buying and Selling

In other news, CEO Hamid Akhavan sold 285,832 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $105.33, for a total value of $30,106,684.56. Following the transaction, the chief executive officer owned 376,805 shares in the company, valued at approximately $39,688,870.65. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Swieringa sold 22,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $67.34, for a total transaction of $1,481,480.00. Following the sale, the chief operating officer owned 283,509 shares of the company’s stock, valued at $19,091,496.06. This represents a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

EchoStar Company Profile

EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.

In the Broadband segment, EchoStar’s Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.