Nykredit A S Invests $5.07 Million in Echostar CORP $ECHO

Nykredit A S bought a new position in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 49,905 shares of the company’s stock, valued at approximately $5,065,000.

A number of other hedge funds have also modified their holdings of ECHO. B. Metzler seel. Sohn & Co. AG acquired a new position in Echostar in the 2nd quarter worth approximately $410,000. Resolute Advisors LLC purchased a new position in Echostar in the second quarter valued at $3,774,000. Secure Asset Management LLC purchased a new position in shares of Echostar in the 2nd quarter valued at about $246,000. Nwam LLC purchased a new stake in shares of Echostar in the second quarter valued at approximately $4,552,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in Echostar in the 2nd quarter worth $4,568,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Echostar Stock Performance

Shares of ECHO opened at $89.80 on Monday. Echostar CORP has a twelve month low of $65.76 and a twelve 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. The firm has a market cap of $26.09 billion, a price-to-earnings ratio of -3.60 and a beta of 1.00. The firm has a fifty day moving average price of $89.74.

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

Insiders Place Their Bets

In other Echostar news, Director Stephen J. Bye sold 8,508 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 653 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Wade sold 2,425 shares of the company’s stock in a transaction 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,508 shares of company stock valued at $1,224,686. 55.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings assumed coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. New Street Research set a $165.00 target price on Echostar in a research report on Monday, June 15th. TD Cowen reduced their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Echostar 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.