12,274 Shares in Echostar CORP $ECHO Purchased by National Pension Service

National Pension Service bought a new position in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, HoldingsChannel reports. The firm bought 12,274 shares of the company’s stock, valued at approximately $1,246,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in shares of Echostar in the 4th quarter worth approximately $26,000. Strive Financial Group LLC bought a new position in shares of Echostar during the second quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in Echostar during the first quarter valued at approximately $34,000. NewEdge Advisors LLC raised its stake in Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after buying an additional 186 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new position in Echostar in the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling at Echostar

In related news, Director William Wade sold 2,575 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the transaction, the director directly owned 2,749 shares of the company’s stock, valued at $254,694.85. This represents a 48.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Bye sold 8,508 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the transaction, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,508 shares of company stock worth $1,224,686. 55.70% of the stock is owned by insiders.

Echostar Price Performance

ECHO stock opened at $93.14 on Monday. The firm has a market cap of $27.06 billion, a PE ratio of -3.74 and a beta of 1.00. Echostar CORP has a 52 week low of $65.76 and a 52 week 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. The stock has a 50 day moving average of $89.96.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ECHO. Citigroup dropped their target price on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. TD Cowen reduced their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. Finally, UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Echostar presently has an average rating of “Moderate Buy” and an average price target of $134.88.

Echostar Company Profile

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.