Mutual of America Capital Management LLC Has $451,000 Stock Position in EchoStar Co. (NASDAQ:SATS)

Mutual of America Capital Management LLC lessened its position in shares of EchoStar Co. (NASDAQ:SATS) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,152 shares of the communications equipment provider’s stock after selling 1,662 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EchoStar were worth $451,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of EchoStar by 238.7% in the 1st quarter. Vanguard Group Inc. now owns 13,707,909 shares of the communications equipment provider’s stock valued at $195,338,000 after purchasing an additional 9,661,167 shares during the last quarter. Darsana Capital Partners LP acquired a new position in shares of EchoStar in the 2nd quarter valued at approximately $36,908,000. American Century Companies Inc. increased its stake in EchoStar by 51.5% during the 2nd quarter. American Century Companies Inc. now owns 2,243,761 shares of the communications equipment provider’s stock worth $39,961,000 after purchasing an additional 762,462 shares in the last quarter. Goldentree Asset Management LP raised its holdings in EchoStar by 20.4% during the 1st quarter. Goldentree Asset Management LP now owns 2,505,475 shares of the communications equipment provider’s stock worth $35,703,000 after buying an additional 424,259 shares during the period. Finally, Monarch Alternative Capital LP raised its stake in shares of EchoStar by 23.6% in the 2nd quarter. Monarch Alternative Capital LP now owns 1,854,000 shares of the communications equipment provider’s stock valued at $33,020,000 after purchasing an additional 354,000 shares during the period. Institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Charles W. Ergen bought 1,551,355 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the transaction, the chairman now directly owns 1,551,355 shares in the company, valued at approximately $43,499,994.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 55.90% of the stock is owned by corporate insiders.

EchoStar Stock Performance

Shares of SATS stock opened at $25.03 on Thursday. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -2.72 and a beta of 0.70. 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 business’s 50-day moving average price is $24.86 and its 200-day moving average price is $21.02. EchoStar Co. has a 12 month low of $10.18 and a 12 month high of $30.08.

Analyst Ratings Changes

SATS has been the subject of several analyst reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a report on Monday, August 12th. UBS Group increased their target price on EchoStar from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. StockNews.com raised EchoStar to a “sell” rating in a research note on Saturday, November 9th. TD Cowen decreased 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, November 13th. Finally, Morgan Stanley lifted their price target on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.25.

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.