Nykredit A S Takes $5.07 Million Position in Echostar CORP $ECHO

Key Points

• Nykredit A/S acquired 49,905 EchoStar shares in the second quarter, valued at approximately $5.07 million. Institutional investors collectively own 33.62% of the company.
• EchoStar reported a quarterly loss of $0.51 per share on $3.67 billion in revenue, with a negative net margin of 38.71%. Analysts expect a full-year loss of $1.35 per share.
• Analyst sentiment remains cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $132 versus the stock’s reported price of $89.80; however, insiders sold $1.22 million of shares over the past 90 days.

Nykredit A S purchased a new stake in shares of Echostar CORP (NASDAQ:ECHO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 49,905 shares of the company's stock, valued at approximately $5,065,000.

A number of other large investors have also recently made changes to their positions in the business. Sachem Head Capital Management LP bought a new stake in Echostar during the 4th quarter valued at approximately $568,218,000. Norges Bank bought a new stake in Echostar in the fourth quarter worth $182,111,000. Tema ETFs LLC grew its position in Echostar by 83,917.0% during the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company's stock valued at $156,228,000 after purchasing an additional 1,537,359 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Echostar during the second quarter valued at approximately $139,004,000. Finally, 140 Summer Partners LP purchased a new stake in Echostar during the 4th quarter valued at $99,678,000. 33.62% of the stock is currently owned by institutional investors.

Echostar Stock Performance

Echostar stock opened at $89.80 on Monday. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25. The business has a 50-day moving average price of $89.74. The company has a market cap of $26.09 billion, a price-to-earnings ratio of -3.60 and a beta of 1.00. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO - Get Free Report) last released its earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The business 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%. As a group, sell-side analysts predict that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen Bye sold 8,508 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director owned 653 shares of the company's stock, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Wade sold 2,575 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director owned 2,749 shares of the company's stock, valued at $254,694.85. This represents a 48.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,508 shares of company stock worth $1,224,686. Corporate insiders own 55.70% of the company's stock.

Analyst Ratings Changes

ECHO has been the topic of a number of recent analyst reports. 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 report on Friday, July 17th. Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. TD Cowen dropped their price target on shares of Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Citigroup cut their target price on Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Finally, Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating on the stock. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat, Echostar presently has an average 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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