Amalgamated Bank Reduces Stake in EchoStar Co. (NASDAQ:SATS)

Amalgamated Bank cut its position in shares of EchoStar Co. (NASDAQ:SATS) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,651 shares of the communications equipment provider’s stock after selling 1,224 shares during the quarter. Amalgamated Bank’s holdings in EchoStar were worth $885,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Creative Planning boosted its position in shares of EchoStar by 42.1% in the 3rd quarter. Creative Planning now owns 35,395 shares of the communications equipment provider’s stock worth $878,000 after buying an additional 10,491 shares in the last quarter. GAMMA Investing LLC raised its position in EchoStar by 54.7% during the third quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 789 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of EchoStar by 71.4% in the third quarter. Handelsbanken Fonder AB now owns 35,542 shares of the communications equipment provider’s stock valued at $882,000 after purchasing an additional 14,800 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of EchoStar in the third quarter valued at approximately $165,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of EchoStar during the 2nd quarter worth approximately $89,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Charles W. Ergen acquired 1,551,355 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the acquisition, the chairman now directly owns 1,551,355 shares in the company, valued at $43,499,994.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 55.90% of the company’s stock.

EchoStar Price Performance

SATS opened at $21.99 on Friday. EchoStar Co. has a 1 year low of $9.53 and a 1 year high of $30.08. The company’s 50 day simple moving average is $24.79 and its 200 day simple moving average is $20.54. The stock has a market capitalization of $5.97 billion, a PE ratio of -2.40 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.32 and a current ratio of 0.67.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. TD Cowen reduced their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group lifted their price target on shares of EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. 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 company’s stock. Based on data from MarketBeat.com, EchoStar presently has a consensus rating of “Hold” and a consensus target price of $19.25.

About EchoStar

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.