372,089 Shares in EchoStar Co. (NASDAQ:SATS) Purchased by Stonehill Capital Management LLC

Stonehill Capital Management LLC acquired a new position in shares of EchoStar Co. (NASDAQ:SATS) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 372,089 shares of the communications equipment provider’s stock, valued at approximately $9,235,000. EchoStar comprises approximately 5.5% of Stonehill Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. Stonehill Capital Management LLC owned 0.14% of EchoStar at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 802 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of EchoStar by 694.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 1,466 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 2,315 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of EchoStar in the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC purchased a new position in shares of EchoStar in the 3rd quarter valued at about $165,000. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Stock Performance

NASDAQ:SATS opened at $24.00 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $24.74 and its 200-day simple moving average is $21.32. EchoStar Co. has a 12-month low of $10.91 and a 12-month high of $30.08.

Insider Buying and Selling

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the stock in a transaction on Tuesday, November 12th. The shares were bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the acquisition, the chairman now owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 55.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SATS shares. UBS Group lifted their price objective on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Morgan Stanley boosted their target price on EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. restated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a research note on Monday, August 12th. Finally, StockNews.com upgraded EchoStar to a “sell” rating in a research note on Saturday, November 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.25.

EchoStar Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.