EchoStar Co. (NASDAQ:SATS) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in EchoStar Co. (NASDAQ:SATS) by 24.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,570 shares of the communications equipment provider’s stock after selling 2,438 shares during the period. Public Employees Retirement System of Ohio’s holdings in EchoStar were worth $188,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of EchoStar by 3.7% during the third quarter. Captrust Financial Advisors now owns 21,589 shares of the communications equipment provider’s stock worth $536,000 after acquiring an additional 772 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of EchoStar by 54.7% in the third 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 during the period. Louisiana State Employees Retirement System raised its holdings in shares of EchoStar by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the communications equipment provider’s stock valued at $1,081,000 after buying an additional 1,100 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of EchoStar by 9.8% during the third 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 grew its holdings in 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 worth $1,240,000 after buying an additional 2,176 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

EchoStar Price Performance

Shares of EchoStar stock opened at $22.75 on Friday. EchoStar Co. has a 52 week low of $11.83 and a 52 week high of $30.08. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The stock has a market cap of $6.18 billion, a PE ratio of -2.48 and a beta of 0.69. The company’s 50-day moving average price is $24.33 and its two-hundred day moving average price is $21.71.

Insider Transactions at EchoStar

In related news, Chairman Charles W. Ergen bought 1,551,355 shares of the firm’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 acquisition, the chairman now directly owns 1,551,355 shares of the company’s stock, valued at $43,499,994.20. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 55.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SATS. Raymond James downgraded EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of EchoStar to a “sell” rating in a report on Saturday, November 9th. TD Cowen lowered their target price on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Morgan Stanley started coverage on shares of EchoStar in a research report on Monday, December 16th. They set an “equal weight” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.50.

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.