Strategic Investment Solutions Inc. IL Makes New Investment in EchoStar Corporation $SATS

Strategic Investment Solutions Inc. IL bought a new position in EchoStar Corporation (NASDAQ:SATS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,538 shares of the communications equipment provider’s stock, valued at approximately $576,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of EchoStar by 11.1% during the third quarter. Fifth Third Bancorp now owns 1,665 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 167 shares during the period. Amalgamated Bank lifted its position in EchoStar by 0.5% in the third quarter. Amalgamated Bank now owns 58,941 shares of the communications equipment provider’s stock valued at $4,501,000 after purchasing an additional 293 shares during the period. Voya Investment Management LLC boosted its holdings in EchoStar by 0.8% in the 3rd quarter. Voya Investment Management LLC now owns 37,456 shares of the communications equipment provider’s stock valued at $2,860,000 after purchasing an additional 298 shares in the last quarter. UMB Bank n.a. boosted its holdings in EchoStar by 23.1% in the 3rd quarter. UMB Bank n.a. now owns 1,875 shares of the communications equipment provider’s stock valued at $143,000 after purchasing an additional 352 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in EchoStar by 79.1% during the 3rd quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock worth $64,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Activity at EchoStar

In related news, COO John Swieringa sold 50,088 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total value of $5,688,995.04. Following the sale, the chief operating officer owned 253,535 shares of the company’s stock, valued at approximately $28,796,505.30. This represents a 16.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hamid Akhavan sold 71,005 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 823,293 shares in the company, valued at approximately $88,520,463.36. The trade was a 7.94% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SATS. UBS Group raised their price target on EchoStar from $125.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. TD Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, January 7th. Morgan Stanley raised EchoStar from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $82.00 to $110.00 in a report on Wednesday, December 10th. Citigroup boosted their target price 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EchoStar in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.17.

EchoStar Stock Performance

NASDAQ:SATS opened at $107.75 on Thursday. 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 has a market capitalization of $31.02 billion, a P/E ratio of -2.14 and a beta of 1.01. The firm has a 50-day moving average price of $115.43 and a two-hundred day moving average price of $93.12. EchoStar Corporation has a twelve month low of $14.90 and a twelve month high of $132.25.

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.