TD Waterhouse Canada Inc. Acquires Shares of 11,933 Echostar CORP $ECHO

TD Waterhouse Canada Inc. bought a new position in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 11,933 shares of the company’s stock, valued at approximately $1,204,000.

A number of other large investors have also modified their holdings of ECHO. Hollencrest Capital Management purchased a new stake in shares of Echostar in the fourth quarter valued at approximately $26,000. SOA Wealth Advisors LLC. acquired a new position in Echostar during the first quarter worth $34,000. NewEdge Advisors LLC raised its position in Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Echostar in the third quarter worth $38,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Echostar in the first quarter valued at $39,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Echostar Trading Down 0.9%

Echostar stock opened at $91.68 on Friday. Echostar CORP has a 52 week low of $26.52 and a 52 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 $26.63 billion, a P/E ratio of -3.68 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share 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%. As a group, sell-side analysts predict that Echostar CORP will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen J. Bye sold 8,508 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares of the company’s stock, valued at $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hamid Akhavan sold 52,586 shares of Echostar stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at $104,741,593. This represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

ECHO has been the topic of several research analyst reports. Williams Trading set a $155.00 target price on shares of Echostar in a research report on Monday, May 18th. 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. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a research report on Friday, July 17th. TD Cowen decreased their price target on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, New Street Research set a $165.00 price target on Echostar in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Echostar Company 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.