Quantinno Capital Management LP Purchases 20,351 Shares of Echostar CORP $ECHO

Quantinno Capital Management LP boosted its holdings in shares of Echostar CORP (NASDAQ:ECHO) by 127.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,264 shares of the company’s stock after buying an additional 20,351 shares during the period. Quantinno Capital Management LP’s holdings in Echostar were worth $4,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ECHO. Hollencrest Capital Management acquired a new stake in shares of Echostar during the 4th quarter valued at about $26,000. Tucker Asset Management LLC acquired a new position in Echostar in the fourth quarter worth about $42,000. BOKF NA lifted its stake in Echostar by 300.0% during the fourth quarter. BOKF NA now owns 400 shares of the company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Whittier Trust Co. acquired a new stake in Echostar during the first quarter valued at approximately $51,000. Finally, Clearstead Advisors LLC boosted its holdings in Echostar by 155.4% during the fourth quarter. Clearstead Advisors LLC now owns 470 shares of the company’s stock valued at $51,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

Echostar Stock Up 3.5%

NASDAQ ECHO opened at $90.04 on Friday. The company has a market cap of $26.16 billion, a PE ratio of -3.61 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 0.27. Echostar CORP has a 1-year low of $26.47 and a 1-year high of $147.25.

Echostar (NASDAQ:ECHO) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Sell-side analysts expect that Echostar CORP will post 23.53 earnings per share for the current year.

Insider Transactions at Echostar

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ECHO. Williams Trading set a $155.00 target price on Echostar in a report on Monday, May 18th. New Street Research set a $165.00 price target on Echostar in a research note on Monday, June 15th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research report on Friday, July 17th. Citigroup dropped their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Weiss Ratings began coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.00.

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.