Steamboat Capital Partners LLC Acquires Shares of 39,551 Echostar CORP $ECHO

Steamboat Capital Partners LLC purchased a new stake in Echostar CORP (NASDAQ:ECHO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,551 shares of the company’s stock, valued at approximately $4,014,000.

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

Echostar Stock Performance

Shares of ECHO stock opened at $93.42 on Wednesday. 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 business has a 50 day simple moving average of $89.82. The company has a market capitalization of $27.14 billion, a P/E ratio of -3.75 and a beta of 1.00.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The company 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%. On average, research analysts predict that Echostar CORP will post -1.35 earnings per share for the current year.

Insider Activity at Echostar

In related news, Director William Wade sold 2,425 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total value of $221,839.00. Following the completion of the sale, the director directly owned 324 shares of the company’s stock, valued at approximately $29,639.52. This represents a 88.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Bye sold 8,508 shares of the 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 completion of the sale, the director owned 653 shares of the company’s stock, valued at approximately $58,658.99. This represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,508 shares of company stock valued at $1,224,686. Company insiders own 55.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ECHO shares. Williams Trading set a $155.00 target price on Echostar in a report on Monday, May 18th. Raymond James Financial raised Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research note on Friday, July 17th. Citigroup reduced their price target on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings started coverage on Echostar in a research note on Monday, July 6th. They issued a “sell (d-)” rating for the company. Finally, UBS Group upgraded shares of Echostar from a “neutral” rating to a “buy” rating and raised their price objective for the company from $127.00 to $150.00 in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.88.

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.