Wealth High Governance Asset Management Ltda. Has $8.76 Million Position in Echostar CORP $ECHO

Wealth High Governance Asset Management Ltda. increased its holdings in shares of Echostar CORP (NASDAQ:ECHO) by 13.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,832 shares of the company’s stock after purchasing an additional 8,674 shares during the period. Echostar makes up about 3.1% of Wealth High Governance Asset Management Ltda.’s holdings, making the stock its 13th biggest position. Wealth High Governance Asset Management Ltda.’s holdings in Echostar were worth $8,761,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Echostar in the fourth quarter worth $26,000. CoreCap Advisors LLC bought a new stake in Echostar during the 4th quarter worth approximately $28,000. SOA Wealth Advisors LLC. bought a new stake in Echostar during the first quarter worth $34,000. NewEdge Advisors LLC grew its stake in shares of Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Echostar in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Insider Activity

In related news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the transaction, the chief executive officer 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 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. 55.70% of the stock is owned by corporate insiders.

Echostar Stock Performance

ECHO stock opened at $84.09 on Monday. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of -1.68 and a beta of 1.03. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. Echostar CORP has a 12-month low of $26.04 and a 12-month high of $147.25.

Echostar (NASDAQ:ECHO) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. Echostar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion during the quarter. Equities research analysts anticipate that Echostar CORP will post -1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen raised their target price on Echostar from $129.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. Williams Trading set a $155.00 target price on Echostar in a research report on Monday, May 18th. Finally, Citigroup began coverage on shares of Echostar in a research report on Tuesday, July 7th. They set a “buy” rating and a $126.00 target price for the company. One investment 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

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.