Echostar CORP $ECHO Stock Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its position in Echostar CORP (NASDAQ:ECHO) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,639 shares of the company’s stock after selling 6,871 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Echostar were worth $4,975,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Ascentis Wealth Management LLC bought a new stake in shares of Echostar during the second quarter worth about $334,950,000. Tidal Investments LLC bought a new position in Echostar in the 2nd quarter valued at approximately $159,344,000. Tema ETFs LLC raised its holdings in Echostar by 83,917.0% in the 2nd quarter. Tema ETFs LLC now owns 1,539,191 shares of the company’s stock valued at $156,228,000 after buying an additional 1,537,359 shares during the last quarter. Van ECK Associates Corp bought a new position in Echostar in the 2nd quarter valued at approximately $139,004,000. Finally, Bank of America Corp DE boosted its position in Echostar by 42.4% during the 1st quarter. Bank of America Corp DE now owns 1,069,301 shares of the company’s stock worth $125,183,000 after buying an additional 318,248 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

Echostar Price Performance

Echostar stock opened at $89.92 on Friday. The business has a 50 day moving average of $91.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 5.12 and a current ratio of 10.16. The firm has a market capitalization of $26.12 billion, a price-to-earnings ratio of -3.61 and a beta of 1.06. Echostar CORP has a one year low of $65.76 and a one year high of $147.25.

Echostar (NASDAQ:ECHO) last announced its earnings results on Tuesday, November 3rd. The company reported $7.97 EPS for the quarter, beating the consensus estimate of $3.07 by $4.90. Echostar had a return on equity of 22.85% and a net margin of 81.29%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $3.00 million. Equities analysts anticipate that Echostar CORP will post -0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ECHO shares. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 target price on the stock in a report on Friday, July 17th. Citigroup dropped their price target on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. UBS Group lifted their price target on shares of Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Echostar in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Echostar has an average rating of “Buy” and an average price target of $139.44.

Insider Activity

In other news, Director William Wade sold 2,575 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the sale, the director directly owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This represents a 48.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 54.60% of the company’s stock.

Echostar Profile

EchoStar Corporation is a global provider of satellite communications, broadband connectivity and wireless services. The company operates through businesses that serve consumers, enterprises, governments and other organizations with connectivity solutions delivered through satellite, wireless and terrestrial networks.

EchoStar’s portfolio includes Hughes, which provides satellite and managed broadband services, as well as satellite television and wireless communications businesses associated with the DISH Network combination completed in 2024.