Royal London Asset Management Ltd. Takes Position in Echostar CORP $ECHO

Royal London Asset Management Ltd. purchased a new position in Echostar CORP (NASDAQ:ECHO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,627 shares of the company’s stock, valued at approximately $11,127,000.

Several other institutional investors also recently added to or reduced their stakes in ECHO. AQR Capital Management LLC boosted 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 valued at $672,000 after buying an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $1,854,000 after acquiring an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Echostar by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company’s stock worth $8,479,000 after acquiring an additional 24,749 shares during the period. Strs Ohio purchased a new position in shares of Echostar during the first quarter worth approximately $128,000. Finally, Hsbc Holdings PLC raised its stake in shares of Echostar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the company’s stock valued at $377,000 after acquiring an additional 2,119 shares in the last quarter. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling

In other Echostar news, Director William David Wade sold 2,575 shares of Echostar stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the transaction, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. The trade was a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Bye sold 8,508 shares of Echostar stock in a transaction on Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares in the company, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 66,094 shares of company stock worth $7,587,592 in the last 90 days. 55.70% of the stock is owned by corporate insiders.

Echostar Trading Down 0.5%

ECHO opened at $86.44 on Tuesday. The stock has a market capitalization of $25.11 billion, a price-to-earnings ratio of -3.47 and a beta of 1.03. 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 1 year low of $56.26 and a 1 year high of $147.25.

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

Analyst Ratings Changes

ECHO has been the subject of a number of research reports. Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. Weiss Ratings began coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price for the company in a research report on Friday, July 17th. TD Cowen lowered their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report 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 investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. 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.