EchoStar Co. (NASDAQ:SATS) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its position in shares of EchoStar Co. (NASDAQ:SATS) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,777 shares of the communications equipment provider’s stock after selling 2,977 shares during the period. State of New Jersey Common Pension Fund D’s holdings in EchoStar were worth $2,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SATS. 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. Hexagon Capital Partners LLC boosted its holdings in EchoStar by 694.8% during the second 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. Nisa Investment Advisors LLC grew its position in EchoStar by 122.9% in the second 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 bought a new position in shares of EchoStar in the second quarter valued at $89,000. Finally, SG Americas Securities LLC acquired a new stake in shares of EchoStar during the 3rd quarter valued at $165,000. 33.62% of the stock is currently owned by institutional investors.

EchoStar Trading Down 5.4 %

Shares of NASDAQ SATS opened at $21.52 on Thursday. The firm has a market capitalization of $5.85 billion, a PE ratio of -2.35 and a beta of 0.70. EchoStar Co. has a one year low of $9.53 and a one year high of $30.08. The company has a current ratio of 0.67, a quick ratio of 0.32 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $24.79 and a two-hundred day moving average price of $20.53.

Analyst Upgrades and Downgrades

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