Swiss Life Asset Management Ltd Takes Position in Echostar CORP $ECHO

Key Points

• Swiss Life Asset Management acquired 15,720 EchoStar shares worth approximately $1.6 million during the second quarter. Institutional investors collectively own 33.62% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $132; targets range from $115 to $155, though one analyst issued a sell rating.
• EchoStar reported quarterly revenue of $3.67 billion but a loss of $0.51 per share and a negative net margin. CEO Hamid Akhavan and director Stephen J. Bye recently sold shares, while insiders own 2% of the stock.

Swiss Life Asset Management Ltd acquired a new stake in shares of Echostar CORP (NASDAQ:ECHO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,720 shares of the company's stock, valued at approximately $1,596,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ECHO. Hollencrest Capital Management bought a new stake in Echostar in the 4th quarter worth approximately $26,000. SOA Wealth Advisors LLC. bought a new position in shares of Echostar during the 1st quarter valued at $34,000. Pittenger & Anderson Inc. purchased a new position in shares of Echostar in the 2nd quarter worth $38,000. NewEdge Advisors LLC boosted its stake in shares of Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company's stock worth $38,000 after buying an additional 186 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Echostar in the third quarter worth $38,000. Hedge funds and other institutional investors own 33.62% of the company's stock.

Wall Street Analysts Forecast Growth

ECHO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. TD Cowen dropped their target price on Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Raymond James Financial upgraded Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price target for the company in a research note on Friday, July 17th. Williams Trading set a $155.00 price target on shares of Echostar in a research report on Monday, May 18th. Finally, Weiss Ratings began coverage on shares of Echostar in a research note on Monday, July 6th. They issued a "sell (d-)" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.

Insider Activity

In related news, CEO Hamid Akhavan sold 52,586 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction 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. The trade was a 5.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 that occurred on Friday, August 7th. The shares were 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 approximately $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.00% of the stock is owned by company insiders.

Echostar Stock Performance

NASDAQ:ECHO opened at $91.68 on Friday. Echostar CORP has a one year low of $26.52 and a one year high of $147.25. The firm has a market capitalization of $26.63 billion, a PE ratio of -3.68 and a beta of 1.03. 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) 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 company had revenue of $3.67 billion for the quarter. Equities research analysts anticipate that Echostar CORP will post -1.35 EPS for the current year.

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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