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

TD Waterhouse Canada Inc. bought a new position in Echostar CORP (NASDAQ:ECHO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,933 shares of the company’s stock, valued at approximately $1,204,000.

Several other hedge funds have also recently made changes to their positions in ECHO. Bellwether Advisors LLC bought a new position in Echostar during the fourth quarter worth about $3,593,000. Dockside LLC bought a new stake in shares of Echostar in the fourth quarter valued at approximately $1,554,000. Seven Grand Managers LLC purchased a new stake in shares of Echostar during the 4th quarter valued at approximately $21,740,000. Legal & General Group Plc lifted its stake in shares of Echostar by 47.0% during the 4th quarter. Legal & General Group Plc now owns 356,447 shares of the company’s stock valued at $38,746,000 after buying an additional 114,018 shares in the last quarter. Finally, DNB Asset Management AS bought a new position in Echostar in the 4th quarter worth approximately $3,110,000. 33.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group upgraded shares of Echostar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $127.00 to $150.00 in a research note on Tuesday. Weiss Ratings assumed coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, TD Cowen reduced their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.88.

Echostar Stock Up 4.0%

NASDAQ:ECHO opened at $93.42 on Wednesday. The stock has a market cap of $27.14 billion, a PE ratio of -3.75 and a beta of 1.00. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The firm has a 50-day simple moving average of $89.82. Echostar CORP has a twelve month low of $65.76 and a twelve month high of $147.25.

Echostar (NASDAQ:ECHO) last announced its 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, equities research analysts expect that Echostar CORP will post -1.35 EPS for the current fiscal year.

Insider Transactions at Echostar

In related news, Director Stephen J. Bye sold 8,508 shares of the firm’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 directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Wade sold 2,425 shares of the business’s stock in a transaction that occurred 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 owned 324 shares of the company’s stock, valued at $29,639.52. The trade was a 88.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,508 shares of company stock worth $1,224,686 in the last 90 days. Company insiders own 55.70% of the company’s stock.

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.