Wealth High Governance Capital Ltda Sells 29,337 Shares of Echostar CORP $ECHO

Wealth High Governance Capital Ltda reduced its holdings in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 25.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,584 shares of the company's stock after selling 29,337 shares during the period. Echostar accounts for approximately 3.1% of Wealth High Governance Capital Ltda's investment portfolio, making the stock its 13th biggest holding. Wealth High Governance Capital Ltda's holdings in Echostar were worth $10,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Echostar by 6.0% in the first quarter. AQR Capital Management LLC now owns 26,805 shares of the company's stock worth $672,000 after purchasing an additional 1,511 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Echostar by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company's stock valued at $1,854,000 after acquiring an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Echostar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company's stock valued at $8,479,000 after acquiring an additional 24,749 shares in the last quarter. Strs Ohio acquired a new position in shares of Echostar during the 1st quarter valued at $128,000. Finally, Hsbc Holdings PLC lifted its position in shares of Echostar by 18.6% during the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the company's stock valued at $377,000 after acquiring an additional 2,119 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the company's stock in a transaction on Friday, June 5th. The stock was 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 in the company, valued at $104,741,593. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 55.70% of the company's stock.

Echostar Price Performance

Echostar stock opened at $84.09 on Monday. Echostar CORP has a 52 week low of $26.04 and a 52 week high of $147.25. The company has a market cap of $24.37 billion, a price-to-earnings ratio of -1.68 and a beta of 1.03. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 3.17.

Echostar (NASDAQ:ECHO - Get Free Report) last released its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The business had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 97.56% and a negative return on equity of 4.80%. On average, analysts forecast that Echostar CORP will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

ECHO has been the subject of several research 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 for the company in a research note on Friday, July 17th. Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. Weiss Ratings began coverage on Echostar in a research report on Monday, July 6th. They set a "sell (d-)" rating on the stock. Finally, New Street Research set a $165.00 target price on Echostar in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.25.

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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