Mirabella Financial Services LLP Makes New $603,000 Investment in Echostar CORP $ECHO

Mirabella Financial Services LLP bought a new stake in Echostar CORP (NASDAQ:ECHO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,943 shares of the company’s stock, valued at approximately $603,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in shares of Echostar during the 4th quarter worth $26,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Echostar in the first quarter valued at about $34,000. Pittenger & Anderson Inc. purchased a new stake in shares of Echostar in the second quarter valued at about $38,000. NewEdge Advisors LLC increased its position in Echostar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Echostar during the third quarter worth about $38,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Echostar Price Performance

Shares of NASDAQ:ECHO opened at $91.89 on Friday. The stock has a market cap of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03. Echostar CORP has a 12-month low of $26.52 and a 12-month high of $147.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12.

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

Insider Activity

In related news, Director William David Wade sold 2,425 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total transaction of $221,839.00. Following the completion of the transaction, the director owned 324 shares of the company’s stock, valued at approximately $29,639.52. This trade represents a 88.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hamid Akhavan sold 52,586 shares of the 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 transaction, the chief executive officer directly owned 865,633 shares of the company’s stock, valued at $104,741,593. The trade was a 5.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 66,094 shares of company stock valued at $7,587,592. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

ECHO has been the topic of a number of analyst reports. Citigroup reduced their target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. TD Cowen cut their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Raymond James Financial upgraded 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 report on Friday, July 17th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, New Street Research set a $165.00 price objective on Echostar in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

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.