Victory Capital Management Inc. Buys 4,626 Shares of EchoStar Co. (NASDAQ:SATS)

Victory Capital Management Inc. boosted its position in EchoStar Co. (NASDAQ:SATS) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,767 shares of the communications equipment provider’s stock after purchasing an additional 4,626 shares during the period. Victory Capital Management Inc.’s holdings in EchoStar were worth $1,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SATS. GAMMA Investing LLC lifted its position in shares of EchoStar by 125.3% in the second quarter. GAMMA Investing LLC now owns 1,442 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 802 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in EchoStar by 694.8% in the second quarter. Hexagon Capital Partners LLC now owns 1,677 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 1,466 shares during the period. Nisa Investment Advisors LLC lifted its holdings in 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 buying an additional 2,315 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of EchoStar during the second quarter valued at approximately $89,000. Finally, SG Americas Securities LLC purchased a new stake in shares of EchoStar in the 3rd quarter worth $165,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

EchoStar Price Performance

Shares of SATS opened at $24.87 on Wednesday. The firm has a 50-day simple moving average of $24.88 and a two-hundred day simple moving average of $20.95. The stock has a market cap of $6.76 billion, a PE ratio of -2.66 and a beta of 0.70. EchoStar Co. has a 1-year low of $10.18 and a 1-year high of $30.08. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.67 and a quick ratio of 0.61.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley increased their target price on EchoStar from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. TD Cowen reduced their price target on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Raymond James cut EchoStar from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $12.00 price objective on shares of EchoStar in a research report on Monday, August 12th. Finally, StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Saturday, November 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.25.

Insider Activity at EchoStar

In other news, Chairman Charles W. Ergen bought 1,551,355 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was bought 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 $43,499,994.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 55.90% of the stock is owned by insiders.

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.