Kestra Private Wealth Services LLC Takes Position in Echostar CORP $ECHO

Key Points

• Kestra Private Wealth Services bought 41,805 EchoStar shares in the second quarter, valued at approximately $4.24 million. Institutional investors collectively own 33.62% of the company.
• EchoStar reported quarterly revenue of $3.67 billion and a loss of $0.51 per share, while analysts expect a full-year loss of $1.35 per share. The stock recently traded at $91.68, down 0.9%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $132 price target, although one firm issued a sell rating. Meanwhile, EchoStar’s CEO and a director recently sold shares.

Kestra Private Wealth Services LLC purchased a new stake in Echostar CORP (NASDAQ:ECHO - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 41,805 shares of the company's stock, valued at approximately $4,243,000.

A number of other institutional investors have also made changes to their positions in ECHO. AQR Capital Management LLC grew its holdings in Echostar by 6.0% during the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the company's stock worth $672,000 after acquiring an additional 1,511 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Echostar by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company's stock worth $1,854,000 after acquiring an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Echostar by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company's stock worth $8,479,000 after purchasing an additional 24,749 shares in the last quarter. Strs Ohio acquired a new position in shares of Echostar during the first quarter worth approximately $128,000. Finally, Hsbc Holdings PLC lifted its position in shares of Echostar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the company's stock worth $377,000 after purchasing an additional 2,119 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

Echostar Trading Down 0.9%

Shares of NASDAQ:ECHO opened at $91.68 on Friday. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The company has a market cap of $26.63 billion, a PE ratio of -3.68 and a beta of 1.03. Echostar CORP has a one year low of $26.52 and a one year high of $147.25.

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

Insider Buying and Selling at Echostar

In other Echostar news, Director Stephen J. Bye sold 8,508 shares of the company's stock in a transaction on Friday, August 7th. The shares were 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 in the company, valued at approximately $58,658.99. The trade was a 92.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hamid Akhavan sold 52,586 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. New Street Research set a $165.00 price target on shares of Echostar in a report on Monday, June 15th. Weiss Ratings began coverage on Echostar in a research report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. Williams Trading set a $155.00 target price on Echostar in a research report on Monday, May 18th. Finally, Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $132.00.

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.

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