Alyeska Investment Group L.P. Takes $8.90 Million Position in Echostar CORP $ECHO

Alyeska Investment Group L.P. acquired a new position in Echostar CORP (NASDAQ:ECHO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 87,668 shares of the company's stock, valued at approximately $8,898,000.

Several other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in Echostar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the company's stock worth $672,000 after purchasing an additional 1,511 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Echostar by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the company's stock valued at $1,854,000 after buying an additional 3,199 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Echostar by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the company's stock worth $8,479,000 after buying an additional 24,749 shares in the last quarter. Strs Ohio purchased a new position in shares of Echostar in the first quarter worth $128,000. Finally, Hsbc Holdings PLC boosted its position in shares of Echostar by 18.6% during the second quarter. Hsbc Holdings PLC now owns 13,528 shares of the company's stock worth $377,000 after acquiring an additional 2,119 shares during the last quarter. Hedge funds and other institutional investors own 33.62% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Williams Trading set a $155.00 price target on shares of Echostar in a report on Monday, May 18th. Citigroup dropped their price objective on shares of Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Weiss Ratings assumed coverage on Echostar in a research report on Monday, July 6th. They set a "sell (d-)" rating for the company. Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Raymond James Financial upgraded Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 target price on the stock in a research report 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 company's stock. Based on data from MarketBeat, the company 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. Echostar CORP has a 52 week low of $56.26 and a 52 week high of $147.25. 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 $25.11 billion, a price-to-earnings ratio of -3.47 and a beta of 1.03.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The business had revenue of $3.67 billion during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, equities analysts predict that Echostar CORP will post -1.35 EPS for the current fiscal year.

Insider Activity

In other news, Director William David Wade sold 2,425 shares of the firm'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 directly owned 324 shares of the company's stock, valued at $29,639.52. This trade represents a 88.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hamid Akhavan sold 52,586 shares of Echostar stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 865,633 shares of the company's stock, valued at approximately $104,741,593. This trade represents a 5.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 66,094 shares of company stock valued at $7,587,592 in the last ninety days. Insiders own 55.70% of the company's stock.

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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