Lido Advisors LLC Cuts Position in Echostar CORP $ECHO

Lido Advisors LLC trimmed its holdings in shares of Echostar CORP (NASDAQ:ECHO) by 72.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,946 shares of the company’s stock after selling 7,855 shares during the period. Lido Advisors LLC’s holdings in Echostar were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in shares of Echostar in the 4th quarter valued at $26,000. CoreCap Advisors LLC purchased a new stake in Echostar during the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd purchased a new stake in Echostar during the 3rd quarter worth $38,000. Tucker Asset Management LLC acquired a new stake in Echostar in the 4th quarter valued at $42,000. Finally, BOKF NA increased its holdings in Echostar by 300.0% in the 4th quarter. BOKF NA now owns 400 shares of the company’s stock valued at $43,000 after purchasing an additional 300 shares in the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ECHO has been the topic of a number of recent research reports. Citigroup started coverage on Echostar in a research note on Tuesday, July 7th. They set a “buy” rating and a $126.00 price objective on the stock. TD Cowen increased their target price on Echostar from $129.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, May 18th. New Street Research set a $165.00 target price on Echostar in a report on Monday, June 15th. Weiss Ratings began coverage on Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating on the stock. Finally, Wall Street Zen raised Echostar from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Echostar Stock Performance

Shares of Echostar stock opened at $84.09 on Friday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.30 and a quick ratio of 0.27. The stock has a market cap of $24.37 billion, a PE ratio of -1.68 and a beta of 1.00. Echostar CORP has a 1-year low of $26.04 and a 1-year high of $147.25.

Echostar (NASDAQ:ECHO) last announced its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative return on equity of 4.80% and a negative net margin of 97.56%.The business had revenue of $3.67 billion for the quarter. As a group, analysts predict that Echostar CORP will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $121.00, for a total transaction of $6,362,906.00. Following the completion of the sale, the chief executive officer owned 865,633 shares in the company, valued at $104,741,593. This trade represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is currently owned by company insiders.

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.