EchoStar (NASDAQ:SATS) Given New $28.00 Price Target at UBS Group

EchoStar (NASDAQ:SATS) had its target price boosted by UBS Group from $15.00 to $28.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the communications equipment provider’s stock.

SATS has been the topic of a number of other reports. Morgan Stanley began coverage on EchoStar in a research report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price on the stock. TD Cowen cut their target price on EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Raymond James lowered EchoStar from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, StockNews.com raised EchoStar to a “sell” rating in a research report on Saturday, November 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.75.

EchoStar Stock Performance

EchoStar stock opened at $23.03 on Monday. The stock’s 50 day moving average price is $23.68 and its 200 day moving average price is $22.28. The firm has a market capitalization of $6.26 billion, a PE ratio of -2.51 and a beta of 0.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 0.67. EchoStar has a one year low of $11.83 and a one year high of $30.08.

Insider Activity

In related news, Chairman Charles W. Ergen bought 1,551,355 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $28.04 per share, with a total value of $43,499,994.20. Following the completion of the transaction, the chairman now directly owns 1,551,355 shares of the company’s stock, valued at approximately $43,499,994.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On EchoStar

Several institutional investors have recently modified their holdings of SATS. Neo Ivy Capital Management acquired a new position in EchoStar during the 3rd quarter valued at about $272,000. Y Intercept Hong Kong Ltd acquired a new position in EchoStar during the 3rd quarter valued at about $1,230,000. State Street Corp boosted its stake in EchoStar by 1.3% during the 3rd quarter. State Street Corp now owns 4,776,238 shares of the communications equipment provider’s stock valued at $118,546,000 after purchasing an additional 62,674 shares during the period. Stonehill Capital Management LLC acquired a new position in EchoStar during the 3rd quarter valued at about $9,235,000. Finally, Darsana Capital Partners LP boosted its stake in EchoStar by 44.8% during the 3rd quarter. Darsana Capital Partners LP now owns 3,000,000 shares of the communications equipment provider’s stock valued at $74,460,000 after purchasing an additional 927,695 shares during the period. Institutional investors own 33.62% of the company’s stock.

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.