Pekin Hardy Strauss Inc. Makes New $6.34 Million Investment in Echostar CORP $ECHO

Pekin Hardy Strauss Inc. acquired a new stake in Echostar CORP (NASDAQ:ECHO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 62,510 shares of the company's stock, valued at approximately $6,345,000.

Several other large investors also recently modified their holdings of ECHO. Parallel Advisors LLC lifted its stake in shares of Echostar by 4.1% during the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock worth $245,000 after buying an additional 83 shares during the last quarter. Diversified Trust Co grew its stake in Echostar by 0.4% in the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company's stock valued at $2,674,000 after buying an additional 84 shares during the last quarter. HB Wealth Management LLC raised its holdings in Echostar by 2.0% in the 4th quarter. HB Wealth Management LLC now owns 4,933 shares of the company's stock valued at $536,000 after acquiring an additional 98 shares during the period. Strs Ohio raised its holdings in Echostar by 0.5% in the 1st quarter. Strs Ohio now owns 19,100 shares of the company's stock valued at $2,236,000 after acquiring an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Echostar by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company's stock worth $611,000 after acquiring an additional 114 shares during the last quarter. 33.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings started coverage on Echostar in a report on Monday, July 6th. They set a "sell (d-)" rating for the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. TD Cowen dropped their price target on Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Williams Trading set a $155.00 price target on Echostar in a research note on Monday, May 18th. Finally, Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. One investment 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.00.

Echostar Trading Up 0.2%

Shares of Echostar stock opened at $91.89 on Friday. Echostar CORP has a twelve month low of $26.52 and a twelve month high of $147.25. 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 stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03.

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

Insider Activity

In related news, Director Stephen J. Bye sold 8,508 shares of the business's 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 completion of the sale, the director directly owned 653 shares in the company, valued at approximately $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William David Wade sold 2,425 shares of the 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 sale, the director directly owned 324 shares in the company, valued at $29,639.52. This represents a 88.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 66,094 shares of company stock worth $7,587,592. Corporate insiders own 2.00% of the company's stock.

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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