Insider Buying: Echostar (NASDAQ:ECHO) Director Acquires $90,410.00 in Stock

Key Points

• EchoStar Director William Wall bought 1,000 shares at $90.41 each, spending $90,410 and increasing his holdings by 40% to 3,500 shares.
• The stock rose 6.9% in Monday trading to $101.19. EchoStar reported quarterly EPS of $7.97, beating the $3.07 analyst consensus.
• Analysts’ average rating is “Buy,” with an average price target of $139.44; ratings include two Strong Buys, seven Buys, and one Sell.

Echostar CORP (NASDAQ:ECHO - Get Free Report) Director William Wall acquired 1,000 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $90.41 per share, with a total value of $90,410.00. Following the completion of the purchase, the director owned 3,500 shares in the company, valued at $316,435. This trade represents a 40.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Echostar Trading Up 6.9%

ECHO traded up $6.57 during trading hours on Monday, hitting $101.19. The company's stock had a trading volume of 4,242,080 shares, compared to its average volume of 6,119,047. Echostar CORP has a 12 month low of $65.76 and a 12 month high of $147.25. The firm has a market cap of $29.39 billion, a PE ratio of 3.69 and a beta of 1.06. The company has a current ratio of 10.16, a quick ratio of 10.08 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $92.29.

Echostar (NASDAQ:ECHO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $4.90. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $3.00 million. Echostar had a return on equity of 22.85% and a net margin of 81.29%. On average, analysts forecast that Echostar CORP will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

ECHO has been the topic of a number of research analyst reports. Zacks Research upgraded Echostar from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Echostar in a report on Friday, October 2nd. Morgan Stanley decreased their price objective on Echostar from $134.00 to $132.00 and set an "overweight" rating on the stock in a report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Echostar in a research report on Friday, October 16th. They set an "overweight" rating and a $144.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $139.44.

Institutional Trading of Echostar

Several hedge funds and other institutional investors have recently bought and sold shares of ECHO. Atreides Management LP increased its stake in shares of Echostar by 11.0% during the 1st quarter. Atreides Management LP now owns 1,000,346 shares of the company's stock worth $117,111,000 after purchasing an additional 99,262 shares during the last quarter. Resolute Advisors LLC purchased a new stake in shares of Echostar in the 2nd quarter worth about $3,774,000. BTG Pactual Asset Management US LLC bought a new position in Echostar in the second quarter worth $4,568,000. Hennessy Advisors Inc. purchased a new position in shares of Echostar during the second quarter valued at approximately $48,405,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Echostar during the second quarter valued at approximately $1,541,000. 33.62% of the stock is currently owned by institutional investors and hedge funds.

Echostar Company Profile

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services.

The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.

Founded by Charlie Ergen in 1980, EchoStar initially focused on satellite technology and services.

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