1,569,889 Shares in Echostar CORP $ECHO Bought by Tidal Investments LLC

Tidal Investments LLC acquired a new position in shares of Echostar CORP (NASDAQ:ECHO) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,569,889 shares of the company’s stock, valued at approximately $159,344,000.

A number of other hedge funds have also bought and sold shares of the company. Bellwether Advisors LLC purchased a new stake in Echostar in the 4th quarter worth about $3,593,000. Dockside LLC purchased a new position in shares of Echostar during the fourth quarter valued at approximately $1,554,000. Seven Grand Managers LLC purchased a new position in shares of Echostar during the fourth quarter valued at approximately $21,740,000. Legal & General Group Plc grew its stake in shares of Echostar by 47.0% during the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the company’s stock valued at $38,746,000 after buying an additional 114,018 shares during the last quarter. Finally, DNB Asset Management AS bought a new position in shares of Echostar during the fourth quarter valued at approximately $3,110,000. Institutional investors own 33.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ECHO shares. TD Cowen decreased their price target on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Williams Trading set a $155.00 price objective on Echostar in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 target price on shares of Echostar in a research note on Wednesday, July 15th. UBS Group upgraded shares of Echostar from a “neutral” rating to a “buy” rating and upped their price target for the stock from $127.00 to $150.00 in a report on Tuesday. Finally, New Street Research set a $165.00 price target on shares of Echostar in a research note on Monday, June 15th. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.88.

Echostar Stock Down 2.2%

Shares of NASDAQ:ECHO opened at $91.32 on Thursday. Echostar CORP has a 52-week low of $65.76 and a 52-week high of $147.25. The company has a market capitalization of $26.53 billion, a PE ratio of -3.66 and a beta of 1.00. The business has a 50 day moving average price of $89.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20.

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 for the quarter. On average, sell-side analysts anticipate that Echostar CORP will post -1.35 EPS for the current fiscal year.

Insider Transactions at Echostar

In other Echostar news, Director William Wade sold 2,425 shares of the 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 transaction, the director directly owned 324 shares in the company, valued at $29,639.52. This represents a 88.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen 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 transaction of $764,273.64. Following the transaction, the director directly owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,508 shares of company stock valued at $1,224,686. 2.00% of the stock is owned by insiders.

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.