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

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Echostar during the fourth quarter worth approximately $26,000. SOA Wealth Advisors LLC. purchased a new stake in Echostar in the 1st quarter worth approximately $34,000. NewEdge Advisors LLC raised its holdings in Echostar by 134.8% in the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Echostar in the 3rd quarter valued at $38,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Echostar during the 1st quarter worth $39,000. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings began coverage on Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price for the company in a research note on Friday, July 17th. New Street Research set a $165.00 target price on Echostar in a research report on Monday, June 15th. Citigroup decreased their price target on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Insiders Place Their Bets

In related news, CEO Hamid Akhavan sold 52,586 shares of Echostar stock in a transaction 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 in the company, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen J. Bye sold 8,508 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, 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 disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by company insiders.

Echostar Stock Down 0.9%

NASDAQ:ECHO opened at $91.68 on Friday. The company has a market cap of $26.63 billion, a price-to-earnings ratio of -3.68 and a beta of 1.03. Echostar CORP has a fifty-two week low of $26.52 and a fifty-two week high of $147.25. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13.

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

About Echostar

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.