Counterpoint Mutual Funds LLC Buys Shares of 8,163 EchoStar Corporation $SATS

Counterpoint Mutual Funds LLC bought a new stake in EchoStar Corporation (NASDAQ:SATS) during the first quarter, HoldingsChannel.com reports. The fund bought 8,163 shares of the communications equipment provider’s stock, valued at approximately $956,000.

Several other hedge funds also recently modified their holdings of SATS. DLD Asset Management LP purchased a new position in shares of EchoStar during the third quarter valued at approximately $2,481,700,000. Sachem Head Capital Management LP acquired a new stake in EchoStar during the fourth quarter worth approximately $568,218,000. Icahn Carl C purchased a new stake in EchoStar in the 3rd quarter worth approximately $332,513,000. Norges Bank purchased a new stake in EchoStar in the 4th quarter worth approximately $182,111,000. Finally, 140 Summer Partners LP purchased a new stake in EchoStar in the 4th quarter worth approximately $99,678,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SATS. Weiss Ratings reissued a “sell (d-)” rating on shares of EchoStar in a research note on Monday, April 20th. Wall Street Zen raised EchoStar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. New Street Research set a $165.00 target price on EchoStar in a research note on Monday, June 15th. TD Cowen increased their target price on EchoStar from $129.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Williams Trading set a $155.00 price target on EchoStar in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $137.71.

Insider Activity at EchoStar

In related news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the sale, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 55.90% of the company’s stock.

EchoStar Trading Down 0.1%

NASDAQ:SATS opened at $103.80 on Friday. The business’s 50-day moving average is $119.90 and its two-hundred day moving average is $117.16. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. EchoStar Corporation has a 12 month low of $24.15 and a 12 month high of $147.25. The firm has a market capitalization of $30.08 billion, a PE ratio of -2.07 and a beta of 0.94.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the firm earned ($0.71) EPS.

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.