NEOS Investment Management LLC Takes Position in Echostar CORP $ECHO

NEOS Investment Management LLC purchased a new stake in Echostar CORP (NASDAQ:ECHO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,706 shares of the company’s stock, valued at approximately $2,305,000.

Other institutional investors have also recently bought and sold shares of the company. 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 last quarter. Strs Ohio bought a new stake in shares of Echostar during the first quarter worth $128,000. Finally, Hsbc Holdings PLC lifted 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 during the period. Institutional investors own 33.62% of the company’s stock.

Insider Activity

In other Echostar news, Director William Wade sold 2,575 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Bye sold 8,508 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the sale, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,508 shares of company stock worth $1,224,686. Corporate insiders own 55.70% of the company’s stock.

Echostar Stock Performance

ECHO opened at $89.80 on Tuesday. The stock has a fifty day moving average price of $89.74. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of -3.60 and a beta of 1.00. Echostar CORP has a twelve month low of $65.76 and a twelve month high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (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 during the quarter. Equities analysts forecast that Echostar CORP will post -1.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ECHO shares. Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. TD Cowen cut their target price on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group raised shares of Echostar to a “buy” rating in a research note on Tuesday. Finally, New Street Research set a $165.00 price target on shares of Echostar in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.