Echostar CORP $ECHO Stock Holdings Increased by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Echostar CORP (NASDAQ:ECHO) by 479.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,570 shares of the company’s stock after buying an additional 19,500 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Echostar were worth $2,392,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Asset Management LLC bought a new position in shares of Echostar in the second quarter valued at $154,000. Dynamic Advisor Solutions LLC boosted its stake in shares of Echostar by 8.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 22,854 shares of the company’s stock worth $2,320,000 after acquiring an additional 1,760 shares in the last quarter. Inspirion Wealth Advisors LLC acquired a new position in shares of Echostar in the 2nd quarter worth $623,000. CoreCap Advisors LLC grew its holdings in shares of Echostar by 103.5% in the 2nd quarter. CoreCap Advisors LLC now owns 529 shares of the company’s stock worth $54,000 after acquiring an additional 269 shares during the last quarter. Finally, Wealth High Governance Asset Management Ltda. raised its position in shares of Echostar by 13.1% during the first quarter. Wealth High Governance Asset Management Ltda. now owns 74,832 shares of the company’s stock worth $8,761,000 after purchasing an additional 8,674 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Stock Performance

Shares of Echostar stock opened at $89.15 on Tuesday. The firm has a market capitalization of $25.90 billion, a PE ratio of -3.58 and a beta of 1.03. Echostar CORP has a 1-year low of $26.52 and a 1-year high of $147.25. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The business had revenue of $3.67 billion for the quarter. Equities research analysts anticipate that Echostar CORP will post 23.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ECHO. Williams Trading set a $155.00 price target on Echostar in a research report on Monday, May 18th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. TD Cowen cut their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Finally, New Street Research set a $165.00 price target on Echostar in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Transactions at Echostar

In related news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the transaction, the chief executive officer directly owned 865,633 shares in the company, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.70% of the stock is owned by corporate insiders.

Echostar Company Profile

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.