Echostar CORP $ECHO Position Reduced by Lido Advisors LLC

Lido Advisors LLC reduced its stake in shares of Echostar CORP (NASDAQ:ECHO) by 72.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,946 shares of the company’s stock after selling 7,855 shares during the quarter. Lido Advisors LLC’s holdings in Echostar were worth $345,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in shares of Echostar in the 4th quarter worth about $26,000. CoreCap Advisors LLC bought a new position in shares of Echostar during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Echostar during the third quarter worth about $38,000. Tucker Asset Management LLC acquired a new position in Echostar in the fourth quarter worth about $42,000. Finally, BOKF NA grew its stake in Echostar by 300.0% in the fourth quarter. BOKF NA now owns 400 shares of the company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

Echostar Stock Performance

Shares of ECHO stock opened at $84.09 on Friday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. Echostar CORP has a 52 week low of $26.04 and a 52 week high of $147.25. The company has a market capitalization of $24.37 billion, a price-to-earnings ratio of -1.68 and a beta of 1.00.

Echostar (NASDAQ:ECHO) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The company had revenue of $3.67 billion for the quarter. Echostar had a negative net margin of 97.56% and a negative return on equity of 4.80%. On average, research analysts forecast that Echostar CORP will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

ECHO has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Echostar in a report on Wednesday, July 15th. New Street Research set a $165.00 target price on Echostar in a report on Monday, June 15th. Weiss Ratings initiated coverage on Echostar in a research report on Monday, July 6th. They issued a “sell (d-)” rating for the company. Williams Trading set a $155.00 price target on Echostar in a report on Monday, May 18th. Finally, Citigroup assumed coverage on Echostar in a research report on Tuesday, July 7th. They set a “buy” rating and a $126.00 price target on the stock. One equities research 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 stock. According to data from MarketBeat.com, Echostar currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Transactions at Echostar

In related news, CEO Hamid Akhavan sold 52,586 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by corporate insiders.

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.