Two Sigma Securities LLC Invests $924,000 in Echostar CORP $ECHO

Two Sigma Securities LLC purchased a new position in Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,104 shares of the company’s stock, valued at approximately $924,000.

A number of other hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Echostar during the 4th quarter worth approximately $26,000. SOA Wealth Advisors LLC. acquired a new position in shares of Echostar in the 1st quarter valued at approximately $34,000. Pittenger & Anderson Inc. purchased a new position in shares of Echostar during the 2nd quarter valued at approximately $38,000. NewEdge Advisors LLC boosted its stake in shares of Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock valued at $38,000 after buying an additional 186 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Echostar during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 33.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. Williams Trading set a $155.00 price objective on shares of Echostar in a research note on Monday, May 18th. Weiss Ratings began coverage on shares of Echostar in a report on Monday, July 6th. They set a “sell (d-)” rating for the company. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Echostar currently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Insiders Place Their Bets

In other Echostar news, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were 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 of the company’s stock, valued at $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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William David Wade sold 2,425 shares of Echostar stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the completion of the transaction, the director owned 324 shares of the company’s stock, valued at approximately $29,639.52. The trade was a 88.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 66,094 shares of company stock valued at $7,587,592. Company insiders own 55.70% of the company’s stock.

Echostar Trading Down 0.5%

Shares of ECHO 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 quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $25.11 billion, a PE ratio of -3.47 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The firm had revenue of $3.67 billion for the quarter. Analysts expect that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

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.