Three Seasons Wealth LLC Makes New $852,000 Investment in EchoStar Corporation $SATS

Three Seasons Wealth LLC purchased a new stake in EchoStar Corporation (NASDAQ:SATS) in the 4th quarter, Holdings Channel reports. The firm purchased 7,842 shares of the communications equipment provider’s stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. DLD Asset Management LP acquired a new stake in shares of EchoStar in the third quarter worth approximately $2,481,700,000. Darsana Capital Partners LP grew its holdings 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 valued at $248,192,000 after purchasing an additional 1,201,672 shares during the period. Icahn Carl C acquired a new position in EchoStar during the third quarter worth approximately $332,513,000. Northern Trust Corp increased its position in EchoStar by 2.8% during the third quarter. Northern Trust Corp now owns 1,744,438 shares of the communications equipment provider’s stock worth $133,205,000 after purchasing an additional 48,322 shares during the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new position in EchoStar during the third quarter worth approximately $98,819,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Activity at EchoStar

In other news, CEO Hamid Akhavan sold 71,005 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $107.52, for a total transaction of $7,634,457.60. Following the transaction, the chief executive officer directly owned 823,293 shares of the company’s stock, valued at approximately $88,520,463.36. The trade was a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the transaction, the chief operating officer owned 253,535 shares of the company’s stock, valued at $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 55.70% of the stock is owned by company insiders.

EchoStar Price Performance

SATS stock opened at $117.07 on Wednesday. The firm has a market cap of $33.82 billion, a P/E ratio of -2.33 and a beta of 1.01. The company has a debt-to-equity ratio of 3.21, a quick ratio of 0.38 and a current ratio of 0.42. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $132.25. The stock has a 50-day simple moving average of $113.52 and a 200-day simple moving average of $95.84.

Analyst Ratings Changes

A number of equities analysts have weighed in on SATS shares. Williams Trading set a $158.00 price target on shares of EchoStar in a report on Wednesday, January 7th. UBS Group increased their target price on EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on EchoStar from $97.00 to $131.00 and gave the company a “buy” rating in a report on Friday, December 19th. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $82.00 to $110.00 in a research report on Wednesday, December 10th. Finally, TD Cowen restated a “buy” rating on shares of EchoStar in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $134.17.

About EchoStar

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.