Nwam LLC Takes Position in Echostar CORP $ECHO

Key Points

• Nwam LLC acquired 44,844 EchoStar shares during the second quarter, valued at approximately $4.55 million. Several other institutional investors also initiated positions, while institutions and hedge funds collectively own 33.62% of the stock.
• EchoStar shares opened at $86.44, near the lower half of their 12-month range, and the company reported a quarterly loss of $0.51 per share on $3.67 billion in revenue. Analysts expect a full-year loss, although the consensus rating remains “Moderate Buy” with a $132 price target.
• Insiders sold 66,094 shares worth approximately $7.59 million over the past three months, including sales by CEO Hamid Akhavan and Director Stephen J. Bye.

Nwam LLC acquired a new position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,844 shares of the company's stock, valued at approximately $4,552,000.

Several other institutional investors and hedge funds also recently modified their holdings of ECHO. BTG Pactual Asset Management US LLC bought a new position in shares of Echostar during the second quarter worth about $4,568,000. Headlands Technologies LLC bought a new stake in Echostar in the 2nd quarter valued at approximately $478,000. Quantitative Investment Management LLC acquired a new position in Echostar during the 2nd quarter worth approximately $1,541,000. Sigma Planning Corp acquired a new position in Echostar during the 2nd quarter worth approximately $544,000. Finally, Two Sigma Securities LLC bought a new position in shares of Echostar during the 2nd quarter worth approximately $924,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Hamid Akhavan sold 52,586 shares of Echostar stock in a transaction dated 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 owned 865,633 shares of the company's stock, valued at $104,741,593. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen J. Bye sold 8,508 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following the transaction, the director owned 653 shares in the company, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 66,094 shares of company stock valued at $7,587,592. 55.70% of the stock is currently owned by corporate insiders.

Echostar Stock Down 0.5%

NASDAQ:ECHO opened at $86.44 on Tuesday. Echostar CORP has a twelve month low of $56.26 and a twelve month high of $147.25. The company has a market cap of $25.11 billion, a price-to-earnings ratio of -3.47 and a beta of 1.03. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. Wall Street Zen raised shares of Echostar from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. New Street Research set a $165.00 price target on shares of Echostar in a research note on Monday, June 15th. Finally, Raymond James Financial raised shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price target on the stock in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.

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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