Nwam LLC Makes New Investment in Echostar CORP $ECHO

Nwam LLC acquired a new stake in Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 44,844 shares of the company’s stock, valued at approximately $4,552,000.

Several other large investors also recently modified their holdings of ECHO. BTG Pactual Asset Management US LLC acquired a new stake in shares of Echostar during the 2nd quarter worth about $4,568,000. Headlands Technologies LLC acquired a new position in Echostar in the 2nd quarter valued at about $478,000. Quantitative Investment Management LLC bought a new position in Echostar in the 2nd quarter valued at about $1,541,000. Sigma Planning Corp bought a new position in Echostar in the 2nd quarter valued at about $544,000. Finally, Two Sigma Securities LLC acquired a new stake in Echostar during the second quarter worth approximately $924,000. 33.62% of the stock is owned by institutional investors.

Insider Buying and Selling at Echostar

In other Echostar news, Director Stephen J. Bye sold 8,508 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director directly owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 66,094 shares of company stock valued at $7,587,592 in the last ninety days. 55.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ECHO shares. Citigroup reduced their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. TD Cowen dropped their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Wall Street Zen upgraded Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, New Street Research set a $165.00 price objective on Echostar in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Echostar Price Performance

ECHO opened at $86.44 on Tuesday. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. Echostar CORP has a 52-week low of $56.26 and a 52-week high of $147.25. The firm has a market cap of $25.11 billion, a PE ratio of -3.47 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The company had revenue of $3.67 billion during the quarter. On average, research analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

About Echostar

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.