BTG Pactual Asset Management US LLC Buys Shares of 45,000 Echostar CORP $ECHO

BTG Pactual Asset Management US LLC bought a new stake in Echostar CORP (NASDAQ:ECHO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,000 shares of the company’s stock, valued at approximately $4,568,000.

Several other large investors have also modified their holdings of the stock. Bellwether Advisors LLC purchased a new stake in shares of Echostar in the fourth quarter valued at about $3,593,000. Dockside LLC acquired a new position in Echostar during the 4th quarter worth approximately $1,554,000. Seven Grand Managers LLC acquired a new stake in shares of Echostar in the 4th quarter valued at approximately $21,740,000. Legal & General Group Plc grew its holdings in Echostar by 47.0% during the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the company’s stock worth $38,746,000 after acquiring an additional 114,018 shares during the period. Finally, DNB Asset Management AS purchased a new position in Echostar in the fourth quarter worth $3,110,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen J. Bye sold 8,508 shares of the 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 transaction, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated 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 approximately $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 66,094 shares of company stock valued at $7,587,592. Insiders own 2.00% of the company’s stock.

Echostar Stock Performance

Echostar stock opened at $86.84 on Monday. The stock has a market cap of $25.23 billion, a P/E ratio of -3.48 and a beta of 1.03. Echostar CORP has a 52 week low of $56.26 and a 52 week 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 issued its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The business 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%. As a group, equities research analysts expect that Echostar CORP will post -1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. Williams Trading set a $155.00 target price on shares of Echostar in a research report on Monday, May 18th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. TD Cowen reduced their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 17th. One investment 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 company’s stock. According to MarketBeat.com, Echostar has an average rating of “Moderate Buy” and a consensus price target of $132.00.

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.