PensionDanmark Pensionsforsikringsaktieselskab Has $2.39 Million Stock Position in Echostar CORP $ECHO

PensionDanmark Pensionsforsikringsaktieselskab raised its position in shares of Echostar CORP (NASDAQ:ECHO) by 479.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,570 shares of the company’s stock after buying an additional 19,500 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Echostar were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ECHO. Hollencrest Capital Management acquired a new position in Echostar during the 4th quarter worth $26,000. SOA Wealth Advisors LLC. acquired a new stake in Echostar in the first quarter worth about $34,000. NewEdge Advisors LLC raised its holdings in Echostar by 134.8% during the 1st 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. JTC Employer Solutions Trustee Ltd bought a new position in shares of Echostar in the 1st quarter valued at about $39,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Echostar during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Activity

In other news, CEO Hamid Akhavan sold 52,586 shares of the business’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 sale, the chief executive officer directly owned 865,633 shares in the company, valued at $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 55.70% of the stock is owned by corporate insiders.

Echostar Stock Performance

Shares of ECHO stock opened at $89.15 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. Echostar CORP has a 52 week low of $26.52 and a 52 week high of $147.25. The company has a market cap of $25.90 billion, a price-to-earnings ratio of -3.58 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The company 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 23.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. Citigroup dropped their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Weiss Ratings began coverage on Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating for the company. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research note on Friday, July 17th. Finally, TD Cowen decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.