Quantinno Capital Management LP Buys 20,351 Shares of Echostar CORP $ECHO

Quantinno Capital Management LP lifted its stake in shares of Echostar CORP (NASDAQ:ECHO) by 127.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,264 shares of the company’s stock after purchasing an additional 20,351 shares during the period. Quantinno Capital Management LP’s holdings in Echostar were worth $4,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its position in Echostar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the company’s stock worth $672,000 after purchasing an additional 1,511 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Echostar by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company’s stock valued at $1,854,000 after buying an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Echostar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company’s stock valued at $8,479,000 after buying an additional 24,749 shares during the period. Strs Ohio acquired a new stake in shares of Echostar in the 1st quarter valued at $128,000. Finally, Hsbc Holdings PLC raised its position in shares of Echostar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the company’s stock worth $377,000 after acquiring an additional 2,119 shares during the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Transactions at Echostar

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 transaction of $6,362,906.00. Following the completion of the transaction, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. The trade was a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. TD Cowen cut their price target on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated 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 target price on shares of Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, New Street Research set a $165.00 price target on shares of Echostar in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Echostar currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Echostar Stock Performance

NASDAQ:ECHO opened at $90.04 on Friday. Echostar CORP has a 12-month low of $26.47 and a 12-month high of $147.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.27 and a current ratio of 5.20. The firm has a market capitalization of $26.16 billion, a PE ratio of -3.61 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) 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, equities analysts anticipate that Echostar CORP will post 23.53 EPS for the current fiscal year.

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.