41,671 Echostar CORP $ECHO Shares Purchased by Two Seas Capital LP

Two Seas Capital LP raised its stake in shares of Echostar CORP (NASDAQ:ECHO) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 544,646 shares of the company’s stock after purchasing an additional 41,671 shares during the quarter. Echostar accounts for about 0.6% of Two Seas Capital LP’s investment portfolio, making the stock its 19th biggest position. Two Seas Capital LP’s holdings in Echostar were worth $48,697,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ECHO. Sachem Head Capital Management LP acquired a new stake in Echostar during the fourth quarter worth about $568,218,000. Tidal Investments LLC acquired a new position in Echostar in the 2nd quarter valued at approximately $159,344,000. Tema ETFs LLC lifted its position in shares of Echostar by 83,917.0% in the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock worth $156,228,000 after acquiring an additional 1,537,359 shares during the period. Van ECK Associates Corp bought a new stake in shares of Echostar in the 2nd quarter worth approximately $139,004,000. Finally, 140 Summer Partners LP acquired a new stake in shares of Echostar during the 4th quarter worth approximately $99,678,000. Institutional investors own 33.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ECHO shares. Citigroup cut their target price on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Raymond James Financial raised 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 report on Friday, July 17th. TD Cowen decreased their target price on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. New Street Research set a $165.00 target price on shares of Echostar in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Echostar has an average rating of “Moderate Buy” and a consensus price target of $137.88.

Insiders Place Their Bets

In related news, Director William Wade sold 2,425 shares of Echostar stock in a transaction dated 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 transaction, the director directly owned 324 shares of the company’s stock, valued at $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen Bye sold 8,508 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following the transaction, the director owned 653 shares in the company, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,508 shares of company stock valued at $1,224,686. 54.60% of the stock is currently owned by corporate insiders.

Echostar Stock Up 1.8%

NASDAQ:ECHO traded up $1.80 on Tuesday, reaching $100.01. The stock had a trading volume of 4,553,904 shares, compared to its average volume of 6,309,640. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The firm has a market cap of $29.05 billion, a P/E ratio of -4.01 and a beta of 0.99. Echostar CORP has a 1-year low of $65.76 and a 1-year high of $147.25. The stock’s fifty day simple moving average is $90.07.

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

About Echostar

EchoStar Corporation is a communications and technology company that provides connectivity services through wireless, satellite, and broadband networks. Its businesses include Boost Mobile, a wireless service provider offering mobile voice, data, and broadband services, as well as satellite communications and related connectivity solutions for consumers, businesses, and government customers.

The company also operates through Hughes, which provides satellite internet, managed network services, and other broadband solutions, particularly for customers in areas with limited access to terrestrial communications infrastructure.