Charles Schwab Investment Management Inc. Sells 568,380 Shares of EchoStar Co. (NASDAQ:SATS)

Charles Schwab Investment Management Inc. decreased its position in EchoStar Co. (NASDAQ:SATS) by 15.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,041,535 shares of the communications equipment provider’s stock after selling 568,380 shares during the period. Charles Schwab Investment Management Inc.’s holdings in EchoStar were worth $75,491,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of EchoStar by 54.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,231 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 789 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of EchoStar by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock worth $1,081,000 after buying an additional 1,100 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of EchoStar by 694.8% during 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 in the last quarter. Natixis Advisors LLC grew its position in shares of EchoStar by 9.8% during the 3rd quarter. Natixis Advisors LLC now owns 21,790 shares of the communications equipment provider’s stock worth $541,000 after buying an additional 1,942 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of EchoStar by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,602 shares of the communications equipment provider’s stock valued at $1,240,000 after acquiring an additional 2,176 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EchoStar

In other news, Chairman Charles W. Ergen purchased 1,551,355 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $28.04 per share, for a total transaction of $43,499,994.20. Following the completion of the acquisition, the chairman now owns 1,551,355 shares in the company, valued at $43,499,994.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition 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 Up 0.6 %

SATS stock opened at $25.03 on Thursday. The firm has a market capitalization of $6.80 billion, a PE ratio of -2.73 and a beta of 0.70. 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 twelve month low of $10.18 and a twelve month high of $30.08. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $21.02.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SATS shares. Raymond James cut shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley raised their target price on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. TD Cowen dropped their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research note on Monday, August 12th. Finally, UBS Group upped their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.25.

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.