EchoStar Co. (NASDAQ:SATS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of EchoStar Co. (NASDAQ:SATS) by 13.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 221,898 shares of the communications equipment provider’s stock after selling 35,433 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.08% of EchoStar worth $5,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position 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 valued at $26,000 after purchasing an additional 802 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of EchoStar by 122.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,199 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 2,315 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of EchoStar in the 2nd quarter valued at approximately $89,000. SG Americas Securities LLC acquired a new position in shares of EchoStar in the 3rd quarter valued at approximately $165,000. Finally, XTX Topco Ltd acquired a new position in shares of EchoStar in the 2nd quarter valued at approximately $183,000. 33.62% of the stock is owned by institutional investors and hedge funds.

EchoStar Price Performance

Shares of SATS opened at $23.30 on Wednesday. The company has a market cap of $6.33 billion, a P/E ratio of -2.54 and a beta of 0.69. The stock has a fifty day moving average price of $24.59 and a 200 day moving average price of $21.49. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61. EchoStar Co. has a 12 month low of $11.71 and a 12 month high of $30.08.

Analyst Ratings Changes

SATS has been the topic of a number of recent analyst reports. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Morgan Stanley boosted their price target on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. TD Cowen lowered their price target on EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. StockNews.com upgraded EchoStar to a “sell” rating in a report on Saturday, November 9th. Finally, UBS Group boosted their price target on EchoStar from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and an average price target of $19.25.

Insider Buying and Selling

In other EchoStar news, Chairman Charles W. Ergen purchased 1,551,355 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the purchase, the chairman now owns 1,551,355 shares in the company, valued at $43,499,994.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 55.90% of the stock is owned by company insiders.

About EchoStar

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.