Engineers Gate Manager LP Takes Position in Echostar CORP $ECHO

Engineers Gate Manager LP purchased a new stake in Echostar CORP (NASDAQ:ECHO) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 70,586 shares of the company’s stock, valued at approximately $7,164,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in Echostar by 6.0% during the first quarter. AQR Capital Management LLC now owns 26,805 shares of the company’s stock worth $672,000 after acquiring an additional 1,511 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Echostar by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company’s stock valued at $1,854,000 after purchasing an additional 3,199 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Echostar by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company’s stock valued at $8,479,000 after purchasing an additional 24,749 shares during the last quarter. Strs Ohio bought a new stake in shares of Echostar in the 1st quarter valued at approximately $128,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Echostar by 18.6% in the 2nd quarter. Hsbc Holdings PLC now owns 13,528 shares of the company’s stock worth $377,000 after purchasing an additional 2,119 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings assumed coverage on Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Williams Trading set a $155.00 price objective on shares of Echostar in a research note on Monday, May 18th. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective on the stock in a research report on Friday, July 17th. UBS Group raised shares of Echostar from a “neutral” rating to a “buy” rating and increased their target price for the company from $127.00 to $150.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 target price on shares of Echostar in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.88.

Insider Buying and Selling at Echostar

In related news, Director Stephen J. Bye sold 8,508 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William Wade sold 2,425 shares of Echostar stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $91.48, for a total transaction of $221,839.00. Following the sale, the director owned 324 shares of the company’s stock, valued at $29,639.52. The trade was a 88.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 13,508 shares of company stock valued at $1,224,686. Corporate insiders own 2.00% of the company’s stock.

Echostar Stock Performance

Shares of NASDAQ ECHO opened at $93.14 on Friday. Echostar CORP has a fifty-two week low of $65.76 and a fifty-two week high of $147.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. The stock has a market capitalization of $27.06 billion, a P/E ratio of -3.74 and a beta of 1.00. The business has a 50 day simple moving average of $89.96.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. The business had revenue of $3.67 billion for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Sell-side analysts predict that Echostar CORP will post -1.35 earnings per share for the current year.

Echostar Company Profile

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.