Nykredit A S Buys New Position in Echostar CORP $ECHO

Key Points

• Nykredit A/S bought 42,320 EchoStar shares during the second quarter, valued at approximately $4.3 million. Institutional investors and hedge funds collectively own 33.62% of the company.
• Analyst sentiment is moderately bullish: EchoStar has a consensus “Moderate Buy” rating and an average price target of $137.88, compared with the stock’s opening price of $95.46.
• EchoStar reported a quarterly loss of $0.51 per share on $3.67 billion in revenue, while insiders sold 13,508 shares worth approximately $1.22 million over the past three months.

Nykredit A S bought a new stake in Echostar CORP (NASDAQ:ECHO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,320 shares of the company's stock, valued at approximately $4,295,000.

Other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of Echostar by 4.1% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock valued at $245,000 after purchasing an additional 83 shares during the last quarter. Diversified Trust Co grew its position in Echostar by 0.4% in the first quarter. Diversified Trust Co now owns 22,845 shares of the company's stock valued at $2,674,000 after purchasing an additional 84 shares in the last quarter. Strs Ohio grew its position in Echostar by 0.5% in the first quarter. Strs Ohio now owns 19,100 shares of the company's stock valued at $2,236,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Echostar by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company's stock valued at $611,000 after buying an additional 114 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company's stock valued at $38,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $134.00 target price on shares of Echostar in a research report on Monday, September 14th. Citigroup lowered their price target on Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings assumed coverage on Echostar in a research note on Monday, July 6th. They set a "sell (d-)" rating on the stock. UBS Group raised shares of Echostar from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. Finally, Raymond James Financial upgraded shares of 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, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.88.

Echostar Stock Up 0.1%

ECHO opened at $95.46 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25. The company has a 50 day simple moving average of $89.81. The firm has a market capitalization of $27.73 billion, a PE ratio of -3.83 and a beta of 1.00.

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. 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. As a group, analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Insider Activity

In related news, Director William Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the sale, the director owned 2,749 shares of the company's stock, valued at approximately $254,694.85. The trade was a 48.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Bye sold 8,508 shares of Echostar 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 sale, the director directly owned 653 shares of the company's stock, valued at $58,658.99. The trade was a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,508 shares of company stock worth $1,224,686 over the last three months. Insiders own 55.70% of the company's stock.

Echostar Profile

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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