EchoStar Co. (NASDAQ:SATS) Shares Sold by ARS Investment Partners LLC

ARS Investment Partners LLC decreased its holdings in shares of EchoStar Co. (NASDAQ:SATS) by 23.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the communications equipment provider’s stock after selling 3,000 shares during the period. ARS Investment Partners LLC’s holdings in EchoStar were worth $229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in shares of EchoStar during the 3rd quarter valued at $272,000. Y Intercept Hong Kong Ltd purchased a new stake in EchoStar during the 3rd quarter worth $1,230,000. State Street Corp increased 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 worth $118,546,000 after buying an additional 62,674 shares during the period. Stonehill Capital Management LLC purchased a new stake in EchoStar during the 3rd quarter worth $9,235,000. Finally, Darsana Capital Partners LP increased 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 worth $74,460,000 after buying an additional 927,695 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

EchoStar Stock Performance

SATS opened at $27.00 on Tuesday. 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 1-year low of $11.83 and a 1-year high of $30.08. The company has a 50-day moving average of $23.60 and a 200-day moving average of $22.58.

Insider Activity at EchoStar

In other EchoStar news, Chairman Charles W. Ergen acquired 1,551,355 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price 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 represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 55.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SATS shares. Raymond James downgraded shares of EchoStar from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. StockNews.com raised shares of EchoStar to a “sell” rating in a research note on Saturday, November 9th. TD Cowen dropped their price target on shares of EchoStar from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. UBS Group boosted their target price on shares of EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Morgan Stanley started coverage on shares of EchoStar in a research report on Monday, December 16th. They issued an “equal weight” rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, EchoStar currently has a consensus rating of “Hold” and a consensus target price of $23.75.

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.