45,000 Shares in Echostar CORP $ECHO Acquired by BTG Pactual Asset Management US LLC

Key Points

• BTG Pactual Asset Management acquired 45,000 EchoStar shares worth approximately $4.57 million during the second quarter. Institutional investors collectively own 33.62% of the company.
• EchoStar shares opened at $86.84, with a 52-week range of $56.26 to $147.25 and a market capitalization of about $25.23 billion. The company reported $3.67 billion in quarterly revenue but posted a loss of $0.51 per share.
• Analyst sentiment remains a Moderate Buy, with a consensus price target of $132, although ratings range from Strong Buy to Sell. Meanwhile, insiders sold 66,094 shares worth roughly $7.59 million over the past 90 days.

BTG Pactual Asset Management US LLC bought a new position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,000 shares of the company's stock, valued at approximately $4,568,000.

Several other institutional investors have also modified their holdings of ECHO. Sachem Head Capital Management LP purchased a new position in Echostar in the fourth quarter valued at $568,218,000. Geode Capital Management LLC increased its holdings in Echostar by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,524,576 shares of the company's stock worth $382,595,000 after purchasing an additional 48,671 shares during the period. Contrarius Group Holdings Ltd raised its position in Echostar by 68.6% in the 4th quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the company's stock valued at $237,154,000 after purchasing an additional 887,611 shares in the last quarter. Northern Trust Corp raised its position in Echostar by 1.3% in the 4th quarter. Northern Trust Corp now owns 1,767,338 shares of the company's stock valued at $192,110,000 after purchasing an additional 22,900 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Echostar in the 4th quarter valued at about $182,111,000. Institutional investors and hedge funds own 33.62% of the company's stock.

Insider Activity at Echostar

In related news, Director William David Wade sold 2,425 shares of the business's stock in a transaction on 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 directly owned 324 shares of the company's stock, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director directly owned 653 shares in the company, valued at approximately $58,658.99. The trade was a 92.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 66,094 shares of company stock valued at $7,587,592 over the last ninety days. Insiders own 2.00% of the company's stock.

Echostar Stock Performance

Shares of Echostar stock opened at $86.84 on Monday. 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 CORP has a 52 week low of $56.26 and a 52 week high of $147.25. The company has a market capitalization of $25.23 billion, a price-to-earnings ratio of -3.48 and a beta of 1.03.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share 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 for the quarter. On average, sell-side analysts anticipate that Echostar CORP will post -1.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ECHO shares. Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. Wall Street Zen upgraded shares of Echostar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Williams Trading set a $155.00 price objective on shares of Echostar in a research report on Monday, May 18th. Citigroup decreased their price objective on shares of Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Finally, New Street Research set a $165.00 target price on shares of Echostar in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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