EchoStar Co. (NASDAQ:SATS) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC lessened its position in shares of EchoStar Co. (NASDAQ:SATS) by 10.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,190,726 shares of the communications equipment provider’s stock after selling 244,111 shares during the quarter. EchoStar makes up about 0.8% of Soros Fund Management LLC’s holdings, making the stock its 27th largest position. Soros Fund Management LLC owned about 0.81% of EchoStar worth $54,374,000 at the end of the most recent quarter.

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

EchoStar Stock Down 0.3 %

NASDAQ SATS opened at $23.93 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11. EchoStar Co. has a fifty-two week low of $11.12 and a fifty-two week high of $30.08. The business has a 50 day moving average price of $24.70 and a two-hundred day moving average price of $21.34. The stock has a market cap of $6.51 billion, a PE ratio of -2.61 and a beta of 0.69.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SATS shares. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. StockNews.com upgraded EchoStar to a “sell” rating in a research note on Saturday, November 9th. TD Cowen cut their price objective on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $12.00 target price on shares of EchoStar in a report on Monday, August 12th. Finally, Morgan Stanley raised their price target on shares of EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and an average target price of $19.25.

Insider Transactions at EchoStar

In other news, Chairman Charles W. Ergen acquired 1,551,355 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 55.90% of the company’s stock.

EchoStar Company 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.