15,390 Shares in Echostar CORP $ECHO Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new stake in shares of Echostar CORP (NASDAQ:ECHO) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 15,390 shares of the company’s stock, valued at approximately $1,562,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in shares of Echostar in the fourth quarter worth about $26,000. SOA Wealth Advisors LLC. bought a new position in Echostar during the first quarter valued at approximately $34,000. NewEdge Advisors LLC grew its holdings in Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after buying an additional 186 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in Echostar during the 1st quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. bought a new stake in Echostar in the 2nd quarter worth approximately $38,000. 33.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director William David Wade sold 2,425 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the completion of the sale, the director owned 324 shares in the company, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $764,273.64. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 66,094 shares of company stock valued at $7,587,592. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a report on Friday, July 17th. Weiss Ratings started coverage on shares of Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating for the company. New Street Research set a $165.00 price target on shares of Echostar in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. Finally, TD Cowen lowered their price objective on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Echostar currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Echostar Price Performance

NASDAQ ECHO opened at $86.81 on Friday. Echostar CORP has a fifty-two week low of $27.40 and a fifty-two week high of $147.25. The company has a market cap of $25.22 billion, a PE ratio of -3.48 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20.

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 during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, equities research analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Echostar 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.