Inspirion Wealth Advisors LLC Makes New $623,000 Investment in Echostar CORP $ECHO

Inspirion Wealth Advisors LLC bought a new position in shares of Echostar CORP (NASDAQ:ECHO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,174 shares of the company’s stock, valued at approximately $623,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sachem Head Capital Management LP purchased a new position in Echostar in the fourth quarter valued at approximately $568,218,000. Norges Bank acquired a new position in shares of Echostar in the 4th quarter valued at $182,111,000. 140 Summer Partners LP acquired a new position in shares of Echostar in the 4th quarter valued at $99,678,000. Atreides Management LP purchased a new position in shares of Echostar in the 4th quarter valued at $97,948,000. Finally, Contrarius Group Holdings Ltd grew its position in shares of Echostar by 68.6% in the 4th quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the company’s stock valued at $237,154,000 after buying an additional 887,611 shares during the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ECHO shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Wall Street Zen raised shares of Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, New Street Research set a $165.00 price objective on shares of Echostar in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Activity

In other 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 directly 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 legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is currently owned by company insiders.

Echostar Trading Down 4.2%

NASDAQ:ECHO opened at $87.73 on Thursday. Echostar CORP has a 1-year low of $26.47 and a 1-year high of $147.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.27 and a current ratio of 5.20. The firm has a market capitalization of $25.43 billion, a P/E ratio of -3.52 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The firm had revenue of $3.67 billion for the quarter. Research analysts expect that Echostar CORP will post -1.75 EPS for the current year.

Echostar Company 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.