Empowered Funds LLC Makes New $7.81 Million Investment in Echostar CORP $ECHO

Key Points

• Empowered Funds LLC acquired 66,748 EchoStar shares worth approximately $7.81 million in the first quarter. Other institutional investors also increased or initiated positions, with institutions collectively owning 33.62% of the stock.
• EchoStar reported a quarterly loss of $0.51 per share on $3.67 billion in revenue, while analysts expect a full-year loss of $1.35 per share. The company’s net margin remained negative at 38.71%.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $132 target price, although insiders sold roughly $7.59 million of stock in the last quarter. ECHO recently traded at $91.89, up 0.2%.

Empowered Funds LLC bought a new stake in shares of Echostar CORP (NASDAQ:ECHO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 66,748 shares of the company's stock, valued at approximately $7,814,000.

A number of other large investors also recently made changes to their positions in ECHO. Bellwether Advisors LLC bought a new stake in Echostar in the fourth quarter valued at about $3,593,000. Dockside LLC bought a new position in Echostar during the fourth quarter worth about $1,554,000. Seven Grand Managers LLC acquired a new position in shares of Echostar during the 4th quarter worth about $21,740,000. Legal & General Group Plc increased its stake in shares of Echostar by 47.0% in the 4th quarter. Legal & General Group Plc now owns 356,447 shares of the company's stock valued at $38,746,000 after acquiring an additional 114,018 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Echostar by 3,009.8% in the 4th quarter. M&T Bank Corp now owns 196,292 shares of the company's stock valued at $22,332,000 after acquiring an additional 189,980 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

Echostar Trading Up 0.2%

ECHO stock opened at $91.89 on Friday. Echostar CORP has a 1 year low of $26.52 and a 1 year high of $147.25. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. As a group, equities research analysts forecast that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

Insider Activity at Echostar

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer owned 865,633 shares in the company, valued at approximately $104,741,593. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William David Wade sold 2,425 shares of the company's 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 directly owned 324 shares of the company's stock, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 66,094 shares of company stock valued at $7,587,592. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Raymond James Financial raised shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price objective on the stock in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. TD Cowen reduced their price target on shares of Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Williams Trading set a $155.00 price objective on shares of Echostar in a research report on Monday, May 18th. Finally, Weiss Ratings started coverage on Echostar in a research note on Monday, July 6th. They set a "sell (d-)" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Echostar has a consensus rating of "Moderate Buy" and a consensus target price 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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