Echostar CORP $ECHO Position Trimmed by Sei Investments Co.

Sei Investments Co. decreased its holdings in Echostar CORP (NASDAQ:ECHO) by 15.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,592 shares of the company’s stock after selling 6,163 shares during the period. Sei Investments Co.’s holdings in Echostar were worth $3,933,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Hollencrest Capital Management purchased a new position in Echostar during the fourth quarter valued at approximately $26,000. Tucker Asset Management LLC purchased a new stake in Echostar in the 4th quarter worth approximately $42,000. BOKF NA boosted its stake in shares of Echostar by 300.0% during the 4th quarter. BOKF NA now owns 400 shares of the company’s stock valued at $43,000 after buying an additional 300 shares during the period. Whittier Trust Co. acquired a new stake in shares of Echostar during the 1st quarter valued at $51,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Echostar during the 4th quarter valued at $51,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Echostar Trading Down 0.8%

ECHO opened at $87.03 on Friday. The company has a quick ratio of 0.27, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The stock has a market cap of $25.22 billion, a PE ratio of -3.49 and a beta of 1.03. Echostar CORP has a 52-week low of $26.47 and a 52-week 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 net margin of 38.71% and a negative return on equity of 1.28%. The company had revenue of $3.67 billion during the quarter. As a group, equities research analysts forecast that Echostar CORP will post 23.53 earnings per share for the current year.

Insider Activity

In related news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer directly owned 865,633 shares in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Cowen dropped their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday. New Street Research set a $165.00 target price on Echostar in a research note on Monday, June 15th. 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. Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. Finally, Weiss Ratings started coverage on Echostar in a research note on Monday, July 6th. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.00.

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.