Ethic Inc. Takes Position in Echostar CORP $ECHO

Ethic Inc. acquired a new stake in shares of Echostar CORP (NASDAQ:ECHO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,691 shares of the company’s stock, valued at approximately $882,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ECHO. Hollencrest Capital Management bought a new stake in Echostar in the 4th quarter worth approximately $26,000. SOA Wealth Advisors LLC. bought a new position in shares of Echostar during the 1st quarter valued at $34,000. Pittenger & Anderson Inc. bought a new position in shares of Echostar during the 2nd quarter valued at $38,000. NewEdge Advisors LLC boosted its stake in shares of Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Echostar in the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ECHO shares. Weiss Ratings assumed coverage on Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research note on Friday, July 17th. Williams Trading set a $155.00 price target on shares of Echostar in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research 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 company currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Insider Activity

In other news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated 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 $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen J. Bye sold 8,508 shares of the firm’s stock in a transaction dated 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 directly owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Echostar Trading Down 0.9%

Shares of Echostar stock opened at $91.68 on Friday. Echostar CORP has a 1-year low of $26.52 and a 1-year high of $147.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. The firm has a market cap of $26.63 billion, a PE ratio of -3.68 and a beta of 1.03.

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