Insider Buying: Echostar (NASDAQ:ECHO) Director Buys $90,410.00 in Stock

Echostar CORP (NASDAQ:ECHO) Director William Wall bought 1,000 shares of Echostar stock in a transaction dated Thursday, November 5th. The stock was acquired at an average cost of $90.41 per share, with a total value of $90,410.00. Following the transaction, the director owned 3,500 shares of the company’s stock, valued at $316,435. This trade represents a 40.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Echostar Stock Performance

ECHO stock opened at $102.20 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.16 and a quick ratio of 10.08. The company has a 50-day simple moving average of $92.97. Echostar CORP has a 52 week low of $65.76 and a 52 week high of $147.25. The firm has a market capitalization of $29.69 billion, a P/E ratio of 15.32 and a beta of 1.06.

Echostar (NASDAQ:ECHO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $4.90. Echostar had a net margin of 81.29% and a return on equity of 22.85%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. On average, analysts forecast that Echostar CORP will post -0.13 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on ECHO shares. JPMorgan Chase & Co. assumed coverage on shares of Echostar in a research report on Friday, October 16th. They set an “overweight” rating and a $144.00 target price on the stock. Citigroup dropped their price target on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Raymond James Financial upgraded 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. UBS Group increased their price target on Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, November 4th. Finally, Weiss Ratings raised Echostar from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Echostar currently has an average rating of “Buy” and a consensus target price of $139.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ascentis Wealth Management LLC bought a new stake in Echostar during the second quarter worth about $334,950,000. Tidal Investments LLC bought a new position in Echostar in the 2nd quarter valued at about $159,344,000. Tema ETFs LLC increased its holdings in Echostar by 83,917.0% in the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock valued at $156,228,000 after buying an additional 1,537,359 shares during the period. Van ECK Associates Corp acquired a new position in shares of Echostar in the 2nd quarter valued at approximately $139,004,000. Finally, Bank of America Corp DE raised its position in shares of Echostar by 42.4% in the 1st quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock valued at $125,183,000 after buying an additional 318,248 shares in the last quarter. Institutional investors and hedge funds own 33.62% of the company’s stock.

Echostar Company Profile

EchoStar Corporation is a communications and connectivity company whose businesses span satellite broadband, enterprise and government communications, pay-TV and wireless services. Its offerings include satellite-based internet and network solutions through Hughes Network Systems, along with consumer and business connectivity services. The company also provides video entertainment through DISH TV and Sling TV, and wireless services under the Boost Mobile brand. EchoStar serves customers in the United States and, through its satellite and communications operations, in international markets.