7,317 Shares in Echostar CORP $ECHO Acquired by Aberdeen Group plc

Aberdeen Group plc bought a new stake in Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, Holdings Channel.com reports. The firm bought 7,317 shares of the company’s stock, valued at approximately $743,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Echostar by 4.1% during the first 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 period. Diversified Trust Co grew its position in shares of Echostar by 0.4% during the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock worth $2,674,000 after buying an additional 84 shares during the period. HB Wealth Management LLC grew its position in shares of Echostar by 2.0% during the 4th quarter. HB Wealth Management LLC now owns 4,933 shares of the company’s stock worth $536,000 after buying an additional 98 shares during the period. Strs Ohio increased its stake in shares of 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Echostar by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company’s stock valued at $611,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insiders Place Their Bets

In other Echostar news, Director Stephen J. Bye sold 8,508 shares of the business’s stock in a transaction 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 sale, the director directly owned 653 shares in the company, valued at $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 available through the SEC website. Also, Director William David Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75. Following the completion of the transaction, the director owned 2,749 shares of the company’s stock, valued at $254,694.85. The trade was a 48.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 66,094 shares of company stock valued at $7,587,592. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ECHO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Friday, July 17th. Weiss Ratings began coverage on shares of Echostar in a research note on Monday, July 6th. They set a “sell (d-)” rating for the company. TD Cowen lowered their price objective on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, New Street Research set a $165.00 price objective on shares of Echostar in a research note on Monday, June 15th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Echostar currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Echostar Stock Up 0.2%

ECHO opened at $91.89 on Friday. Echostar CORP has a 1 year low of $26.52 and a 1 year high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03.

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

Echostar Company 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.