Cambridge Investment Research Advisors Inc. Makes New Investment in Echostar CORP $ECHO

Cambridge Investment Research Advisors Inc. bought a new stake in shares of Echostar CORP (NASDAQ:ECHO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,126 shares of the company’s stock, valued at approximately $1,129,000.

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

Echostar Stock Performance

NASDAQ:ECHO opened at $91.68 on Friday. 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 CORP has a 52-week low of $26.52 and a 52-week high of $147.25. The stock has a market cap of $26.63 billion, a PE ratio of -3.68 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) 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 during the quarter. Sell-side analysts forecast that Echostar CORP will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Echostar

In other news, Director Stephen J. Bye sold 8,508 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hamid Akhavan sold 52,586 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 865,633 shares of the company’s stock, valued at approximately $104,741,593. This represents a 5.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ECHO. New Street Research set a $165.00 price target on shares of Echostar in a research note on Monday, June 15th. Williams Trading set a $155.00 target price on Echostar in a research note on Monday, May 18th. Weiss Ratings began coverage on Echostar in a report on Monday, July 6th. They issued a “sell (d-)” rating on the stock. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a report on Friday, July 17th. Finally, Citigroup decreased their price target on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.00.

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.