Two Sigma Securities LLC Takes $924,000 Position in Echostar CORP $ECHO

Two Sigma Securities LLC acquired a new position in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,104 shares of the company’s stock, valued at approximately $924,000.

Other hedge funds have also modified their holdings of the company. GTS Securities LLC purchased a new stake in Echostar in the second quarter valued at approximately $427,000. Alyeska Investment Group L.P. purchased a new position in Echostar during the second quarter worth approximately $8,898,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Echostar in the 2nd quarter valued at $439,000. Bluefin Capital Management LLC acquired a new position in shares of Echostar in the 2nd quarter valued at $3,091,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Echostar during the 2nd quarter valued at $48,405,000. 33.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Echostar

In other news, Director Stephen J. Bye sold 8,508 shares of Echostar 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 sale, the director owned 653 shares in the company, valued at $58,658.99. This trade represents a 92.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William David Wade sold 2,425 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was 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 approximately $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 66,094 shares of company stock valued at $7,587,592 over the last 90 days. 55.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ECHO. TD Cowen cut their target price on Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Williams Trading set a $155.00 price target on Echostar in a research note on Monday, May 18th. Weiss Ratings assumed coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Citigroup decreased their target price on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.00.

Echostar Trading Down 0.5%

ECHO stock opened at $86.44 on Tuesday. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. Echostar CORP has a 1 year low of $56.26 and a 1 year high of $147.25. The stock has a market capitalization of $25.11 billion, a PE ratio of -3.47 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last released its quarterly 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 return on equity of 1.28% and a negative net margin of 38.71%. On average, research analysts expect that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

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.