Amundi Buys Shares of 411,904 Echostar CORP $ECHO

Key Points

• Amundi acquired 411,904 EchoStar shares worth approximately $41.8 million during the second quarter, representing about 0.14% of the company. Institutional investors collectively own 33.62% of EchoStar.
• EchoStar reported quarterly revenue of $3.67 billion and a loss of $0.51 per share; analysts expect a full-year loss of $1.35 per share. The stock opened at $91.85, compared with a 12-month range of $65.76 to $147.25.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $134.88, although insiders sold 13,508 shares worth about $1.22 million over the past quarter.

Amundi acquired a new stake in shares of Echostar CORP (NASDAQ:ECHO - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 411,904 shares of the company's stock, valued at approximately $41,808,000. Amundi owned approximately 0.14% of Echostar as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Echostar in the second quarter valued at approximately $1,247,000. CYBER HORNET ETFs LLC bought a new position in shares of Echostar during the second quarter valued at $38,000. California State Teachers Retirement System bought a new position in shares of Echostar during the second quarter valued at $2,059,533,000. PCG Wealth Advisors LLC acquired a new position in shares of Echostar during the second quarter worth $212,000. Finally, HB Wealth Management LLC bought a new stake in shares of Echostar in the second quarter worth $434,000. Institutional investors own 33.62% of the company's stock.

Echostar Stock Up 0.6%

ECHO stock opened at $91.85 on Friday. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $26.68 billion, a price-to-earnings ratio of -3.69 and a beta of 1.00. The firm has a fifty day moving average price of $89.90. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.67 billion for the quarter. Research analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ECHO shares. Weiss Ratings started coverage on Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating for the company. Raymond James Financial raised Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 target price on the stock in a report on Friday, July 17th. Williams Trading set a $155.00 price target on Echostar in a research report on Monday, May 18th. UBS Group raised Echostar from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $150.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Echostar has a consensus rating of "Moderate Buy" and a consensus price target of $134.88.

Insider Buying and Selling

In other Echostar news, Director Stephen Bye sold 8,508 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 653 shares of the company's stock, valued at approximately $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Wade sold 2,425 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares in the company, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,508 shares of company stock valued at $1,224,686. 2.00% of the stock is currently owned by corporate insiders.

About Echostar

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.

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