Public Employees Retirement System of Ohio Makes New $4.10 Million Investment in Echostar CORP $ECHO

Public Employees Retirement System of Ohio purchased a new position in shares of Echostar CORP (NASDAQ:ECHO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,396 shares of the company’s stock, valued at approximately $4,100,000.

A number of other large investors have also made changes to their positions in the company. Hollencrest Capital Management bought a new position in Echostar during the fourth quarter worth about $26,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Echostar during the first quarter worth about $34,000. NewEdge Advisors LLC raised its position in shares of Echostar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in shares of Echostar during the 1st quarter valued at about $39,000. Finally, Pittenger & Anderson Inc. bought a new position in shares of Echostar during the 2nd quarter valued at about $38,000. Institutional investors own 33.62% of the company’s stock.

Insider Activity at Echostar

In related news, Director William Wade sold 2,575 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the transaction, the director directly owned 2,749 shares in the company, valued at approximately $254,694.85. The trade was a 48.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen J. Bye sold 8,508 shares of the company’s 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 sale, the director directly owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,508 shares of company stock worth $1,224,686 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ECHO shares. Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Williams Trading set a $155.00 price target on shares of Echostar in a report on Monday, May 18th. New Street Research set a $165.00 price objective on shares of Echostar in a report on Monday, June 15th. TD Cowen cut their price objective 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. Finally, Weiss Ratings initiated coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Echostar Price Performance

Shares of NASDAQ ECHO opened at $89.79 on Friday. The company has a market cap of $26.08 billion, a PE ratio of -3.60 and a beta of 1.00. The firm has a 50-day moving average of $89.74. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. Echostar CORP has a fifty-two week low of $63.39 and a fifty-two week high of $147.25.

Echostar (NASDAQ:ECHO) last released its 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 company had revenue of $3.67 billion during the quarter. On average, sell-side analysts expect that Echostar CORP will post -1.35 EPS for the current year.

About Echostar

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.