EchoStar Co. (NASDAQ:SATS) Stock Position Lessened by Soros Fund Management LLC

Soros Fund Management LLC reduced its stake in shares of EchoStar Co. (NASDAQ:SATS) by 10.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,190,726 shares of the communications equipment provider’s stock after selling 244,111 shares during the quarter. EchoStar comprises about 0.8% of Soros Fund Management LLC’s investment portfolio, making the stock its 27th largest holding. Soros Fund Management LLC’s holdings in EchoStar were worth $54,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of EchoStar by 162.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 99,968 shares of the communications equipment provider’s stock worth $1,425,000 after buying an additional 61,871 shares in the last quarter. California State Teachers Retirement System raised its position in EchoStar by 229.4% in the first quarter. California State Teachers Retirement System now owns 119,319 shares of the communications equipment provider’s stock worth $1,700,000 after acquiring an additional 83,094 shares in the last quarter. Tidal Investments LLC acquired a new stake in EchoStar in the 1st quarter valued at about $511,000. Comerica Bank boosted its position in shares of EchoStar by 365.5% during the 1st quarter. Comerica Bank now owns 51,390 shares of the communications equipment provider’s stock valued at $732,000 after purchasing an additional 40,350 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of EchoStar by 125.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock worth $26,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Buying and Selling at EchoStar

In related news, Chairman Charles W. Ergen bought 1,551,355 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $28.04 per share, for a total transaction of $43,499,994.20. Following the transaction, the chairman now directly owns 1,551,355 shares in the company, valued at $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 55.90% of the company’s stock.

EchoStar Stock Down 0.3 %

Shares of NASDAQ:SATS opened at $23.93 on Friday. The firm has a 50 day simple moving average of $24.70 and a 200 day simple moving average of $21.34. EchoStar Co. has a 52 week low of $11.12 and a 52 week high of $30.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. The company has a market cap of $6.51 billion, a PE ratio of -2.61 and a beta of 0.69.

Analyst Ratings Changes

Several research firms recently commented on SATS. Raymond James lowered shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. UBS Group increased their price objective on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. TD Cowen cut their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, StockNews.com raised EchoStar to a “sell” rating in a report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, EchoStar has an average 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.