Empowered Funds LLC Acquires 16,595 Shares of EchoStar Co. (NASDAQ:SATS)

Empowered Funds LLC increased its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,416 shares of the communications equipment provider’s stock after acquiring an additional 16,595 shares during the quarter. Empowered Funds LLC owned approximately 0.12% of EchoStar worth $8,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in EchoStar by 125.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC raised its position 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 valued at $30,000 after purchasing an additional 1,466 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of EchoStar by 122.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 2,315 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in EchoStar during the 2nd quarter worth about $89,000. Finally, SG Americas Securities LLC purchased a new position in EchoStar in the third quarter valued at about $165,000. 33.62% of the stock is currently owned by institutional investors.

EchoStar Stock Up 3.6 %

SATS stock opened at $22.79 on Friday. EchoStar Co. has a fifty-two week low of $9.53 and a fifty-two week high of $30.08. The stock has a market cap of $6.19 billion, a PE ratio of -2.49 and a beta of 0.70. The firm’s 50-day simple moving average is $24.79 and its 200 day simple moving average is $20.59. The company has a quick ratio of 0.32, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

Insider Activity at EchoStar

In other EchoStar news, Chairman Charles W. Ergen acquired 1,551,355 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the transaction, the chairman now owns 1,551,355 shares in the company, valued at $43,499,994.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 55.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SATS shares. UBS Group upped their price target on shares of EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Morgan Stanley upped their target price on shares of EchoStar from $14.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. StockNews.com upgraded shares of EchoStar to a “sell” rating in a research report on Saturday, November 9th. Finally, TD Cowen dropped 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.