Mirabella Financial Services LLP Acquires New Stake in Echostar CORP $ECHO

Mirabella Financial Services LLP bought a new position in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 5,943 shares of the company’s stock, valued at approximately $603,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in Echostar in the 4th quarter valued at 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 lifted 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 in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Echostar in the first quarter valued at approximately $39,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Echostar in the second quarter valued at approximately $38,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ECHO has been the subject of a number of research reports. Wall Street Zen upgraded shares of Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Williams Trading set a $155.00 target price on shares of Echostar in a report on Monday, May 18th. Raymond James Financial raised 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. New Street Research set a $165.00 price target on shares of Echostar in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Echostar Price Performance

Shares of Echostar stock opened at $91.89 on Friday. 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 one year low of $26.52 and a one year high of $147.25. The stock has a market cap of $26.69 billion, a PE ratio of -3.69 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last issued its earnings results 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 firm had revenue of $3.67 billion during the quarter. As a group, equities research analysts forecast that Echostar CORP will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Echostar

In other Echostar news, Director William David Wade sold 2,425 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the sale, the director directly owned 324 shares of the company’s stock, valued at approximately $29,639.52. This represents a 88.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $6,362,906.00. Following the completion of the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 66,094 shares of company stock valued at $7,587,592. Insiders own 2.00% of the company’s stock.

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.