Wealth High Governance Capital Ltda Invests $19.90 Million in EchoStar Corporation $SATS

Wealth High Governance Capital Ltda purchased a new position in shares of EchoStar Corporation (NASDAQ:SATS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 183,079 shares of the communications equipment provider’s stock, valued at approximately $19,901,000. EchoStar accounts for approximately 3.7% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC acquired a new position in shares of EchoStar during the 4th quarter worth $28,000. Rosenberg Matthew Hamilton purchased a new stake in shares of EchoStar in the 4th quarter worth about $29,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of EchoStar in the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of EchoStar in the 3rd quarter worth about $38,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of EchoStar in the 4th quarter worth about $62,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SATS has been the topic of several recent research reports. UBS Group boosted their price objective on shares of EchoStar from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Williams Trading set a $158.00 price objective on shares of EchoStar in a research report on Wednesday, January 7th. TD Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research report on Monday, April 20th. Finally, Citigroup boosted their price objective on shares of EchoStar from $111.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, EchoStar presently has a consensus rating of “Hold” and an average price target of $134.17.

Insider Transactions at EchoStar

In other EchoStar news, CEO Hamid Akhavan sold 71,005 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $107.52, for a total value of $7,634,457.60. Following the transaction, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. This represents a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $28,796,505.30. This trade represents a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 55.70% of the stock is currently owned by corporate insiders.

EchoStar Price Performance

NASDAQ:SATS opened at $119.78 on Thursday. The firm has a market cap of $34.60 billion, a price-to-earnings ratio of -2.38 and a beta of 1.00. The company has a current ratio of 0.42, a quick ratio of 0.38 and a debt-to-equity ratio of 3.21. The company’s 50-day moving average is $117.44 and its two-hundred day moving average is $103.22. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $137.44.

EchoStar 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.