Inspirion Wealth Advisors LLC Invests $623,000 in Echostar CORP $ECHO

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

Several other institutional investors and hedge funds have also recently modified their holdings of ECHO. Parallel Advisors LLC boosted its position in Echostar by 4.1% during the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company’s stock worth $245,000 after purchasing an additional 83 shares in the last quarter. Diversified Trust Co increased its position in shares of Echostar by 0.4% in the first quarter. Diversified Trust Co now owns 22,845 shares of the company’s stock valued at $2,674,000 after buying an additional 84 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Echostar by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 4,933 shares of the company’s stock valued at $536,000 after buying an additional 98 shares in the last quarter. Strs Ohio raised its stake in shares of Echostar by 0.5% during the 1st quarter. Strs Ohio now owns 19,100 shares of the company’s stock worth $2,236,000 after buying an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Echostar by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company’s stock worth $611,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Insider Buying and Selling

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the sale, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 owned by insiders.

Echostar Trading Down 4.2%

ECHO stock opened at $87.73 on Thursday. The company has a current ratio of 5.20, a quick ratio of 0.27 and a debt-to-equity ratio of 1.13. Echostar CORP has a 12-month low of $26.47 and a 12-month high of $147.25. 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) earnings per share for the quarter. The business had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. As a group, equities analysts anticipate that Echostar CORP will post -1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ECHO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating on the stock. TD Cowen dropped 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. New Street Research set a $165.00 target price on shares of Echostar in a research note on Monday, June 15th. Finally, Williams Trading set a $155.00 price target on shares of Echostar in a research report on Monday, May 18th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.