Dimensional Fund Advisors LP Has $26.72 Million Stock Position in Echostar CORP $ECHO

Key Points

• Dimensional Fund Advisors cut its EchoStar stake by 57.4% in the first quarter, selling 307,274 shares and retaining 228,254 shares valued at approximately $26.72 million. Institutional investors and hedge funds collectively own 33.62% of the company.
• Analyst sentiment remains generally positive, with EchoStar carrying a consensus “Moderate Buy” rating and an average price target of $132.00, despite ratings ranging from “strong buy” to “sell.”
• EchoStar shares opened at $87.73 after declining 4.2%; the company reported a quarterly loss of $0.51 per share on $3.67 billion in revenue and continues to post negative profitability metrics.

Dimensional Fund Advisors LP lessened its stake in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 57.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,254 shares of the company's stock after selling 307,274 shares during the quarter. Dimensional Fund Advisors LP owned about 0.08% of Echostar worth $26,722,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Echostar during the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Echostar in the third quarter valued at approximately $38,000. Tucker Asset Management LLC bought a new stake in shares of Echostar during the fourth quarter valued at approximately $42,000. BOKF NA increased its holdings in shares of Echostar by 300.0% during the fourth quarter. BOKF NA now owns 400 shares of the company's stock valued at $43,000 after acquiring an additional 300 shares in the last quarter. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Echostar during the fourth quarter worth approximately $51,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ECHO. Weiss Ratings initiated coverage on shares of Echostar in a research report on Monday, July 6th. They issued a "sell (d-)" rating for the company. 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 target on shares of Echostar in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. Finally, Raymond James Financial upgraded 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $132.00.

Insider Buying and Selling at Echostar

In other news, CEO Hamid Akhavan sold 52,586 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares of the company's stock, valued at $104,741,593. This represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by corporate insiders.

Echostar Trading Down 4.2%

NASDAQ ECHO opened at $87.73 on Thursday. The company has a current ratio of 5.20, a quick ratio of 0.27 and a debt-to-equity ratio of 1.13. The firm has a market cap of $25.43 billion, a PE ratio of -3.52 and a beta of 1.03. Echostar CORP has a one year low of $26.47 and a one year high of $147.25.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The company had revenue of $3.67 billion for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Equities analysts predict that Echostar CORP will post -1.75 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.

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