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

Echostar CORP (NASDAQ:ECHO) Director William Wall purchased 1,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average price of $90.41 per share, for a total transaction of $90,410.00. Following the purchase, the director owned 3,500 shares in the company, valued at approximately $316,435. This represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Echostar Price Performance

Shares of ECHO traded up $6.57 during mid-day trading on Monday, reaching $101.19. 4,242,080 shares of the company’s stock traded hands, 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’s 50-day moving average is $92.29. The stock has a market capitalization of $29.39 billion, a PE ratio of 3.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 10.08 and a current ratio of 10.16.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $4.90. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $3.00 million. Echostar had a return on equity of 22.85% and a net margin of 81.29%. Research analysts predict that Echostar CORP will post -0.13 earnings per share for the current year.

Institutional Trading of Echostar

Several institutional investors and hedge funds have recently modified their holdings of ECHO. Tidal Investments LLC acquired a new stake in shares of Echostar during the 2nd quarter worth about $159,344,000. Tema ETFs LLC lifted its holdings in Echostar by 83,917.0% in the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after buying an additional 1,537,359 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Echostar in the second quarter valued at $139,004,000. Bank of America Corp DE increased its holdings in shares of Echostar by 42.4% in the 1st quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock valued at $125,183,000 after acquiring an additional 318,248 shares during the last quarter. Finally, Atreides Management LP lifted its holdings in Echostar by 11.0% in the first quarter. Atreides Management LP now owns 1,000,346 shares of the company’s stock worth $117,111,000 after acquiring an additional 99,262 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Wall Street Analyst Weigh In

ECHO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research report on Wednesday, July 15th. Citigroup cut their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Zacks Research raised Echostar from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. JPMorgan Chase & Co. began coverage on shares of Echostar in a research note on Friday, October 16th. They set an “overweight” rating and a $144.00 target price on the stock. Finally, Morgan Stanley dropped their target price on Echostar from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $139.44.

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.