11,933 Shares in Echostar CORP $ECHO Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada Inc. acquired 11,933 EchoStar shares during the second quarter, valued at approximately $1.2 million. Institutional investors and hedge funds collectively own 33.62% of the company.
• EchoStar insiders have been net sellers, with directors selling 13,508 shares worth about $1.22 million over the past 90 days; insiders retain a 55.70% ownership stake.
• Analyst sentiment is moderately bullish, with an average rating of “Moderate Buy” and a $134.88 price target, while shares recently opened at $93.42. The company reported quarterly revenue of $3.67 billion but posted a $0.51 loss per share and negative net margins.

TD Waterhouse Canada Inc. purchased a new position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,933 shares of the company's stock, valued at approximately $1,204,000.

Several other large investors also recently modified their holdings of ECHO. Parallel Advisors LLC lifted its position in shares of Echostar by 4.1% during the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock valued at $245,000 after acquiring an additional 83 shares during the period. Diversified Trust Co grew its holdings in Echostar by 0.4% in the first quarter. Diversified Trust Co now owns 22,845 shares of the company's stock worth $2,674,000 after purchasing an additional 84 shares during the period. Strs Ohio increased its stake in Echostar by 0.5% in the first quarter. Strs Ohio now owns 19,100 shares of the company's stock valued at $2,236,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Echostar by 2.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company's stock valued at $611,000 after purchasing an additional 114 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Echostar by 0.5% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the company's stock valued at $3,274,000 after purchasing an additional 144 shares during the period. Institutional investors and hedge funds own 33.62% of the company's stock.

Insider Buying and Selling at Echostar

In related news, Director Stephen J. 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 transaction, the director owned 653 shares in the company, valued at approximately $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $221,839.00. Following the completion of the sale, the director directly owned 324 shares in the company, valued at approximately $29,639.52. This represents a 88.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,508 shares of company stock valued at $1,224,686. Insiders own 55.70% of the company's stock.

Analysts Set New Price Targets

ECHO has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Echostar from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. 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. New Street Research set a $165.00 price objective on Echostar in a research note on Monday, June 15th. Weiss Ratings started coverage on Echostar in a report on Monday, July 6th. They set a "sell (d-)" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. 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. According to data from MarketBeat.com, Echostar has an average rating of "Moderate Buy" and an average target price of $134.88.

Echostar Stock Up 4.0%

Shares of NASDAQ ECHO opened at $93.42 on Wednesday. The stock has a market cap of $27.14 billion, a P/E ratio of -3.75 and a beta of 1.00. 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 business 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 - Get Free Report) last issued its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%.The business had revenue of $3.67 billion for the quarter. As a group, research analysts expect that Echostar CORP will post -1.35 EPS 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.

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