14,008 Echostar CORP $ECHO Shares Bought by ACR Alpine Capital Research LLC

Key Points

• ACR Alpine Capital Research increased its EchoStar stake by 21.2% in Q3, adding 14,008 shares to reach 80,058 shares valued at about $7.16 million.
• Analyst sentiment is mostly positive: the stock carries a consensus “Buy” rating and an average price target of $139.44, though one analyst rates it Sell.
• EchoStar shares were reported down 8.8%; the company posted quarterly EPS of $7.97, beating the $3.07 consensus estimate.

ACR Alpine Capital Research LLC grew its holdings in Echostar CORP (NASDAQ:ECHO - Free Report) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,058 shares of the company's stock after acquiring an additional 14,008 shares during the quarter. Echostar accounts for approximately 0.1% of ACR Alpine Capital Research LLC's investment portfolio, making the stock its 24th biggest position. ACR Alpine Capital Research LLC's holdings in Echostar were worth $7,158,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ECHO. Tidal Investments LLC bought a new position in shares of Echostar during the second quarter worth approximately $159,344,000. Tema ETFs LLC boosted its stake in shares of Echostar by 83,917.0% in the second 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 period. Van ECK Associates Corp acquired a new stake in Echostar during the second quarter worth approximately $139,004,000. Bank of America Corp DE grew its position in Echostar by 42.4% during the first 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 in the last quarter. Finally, Atreides Management LP grew its position in Echostar by 11.0% during the first quarter. Atreides Management LP now owns 1,000,346 shares of the company's stock worth $117,111,000 after buying an additional 99,262 shares in the last quarter. Institutional investors own 33.62% of the company's stock.

Insider Buying and Selling

In other Echostar news, Director William Wade sold 2,575 shares of the firm's stock in a transaction that occurred 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 owned 2,749 shares in the company, valued at $254,694.85. This trade represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 54.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ECHO has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Echostar in a research note on Friday, October 2nd. 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 research report on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of Echostar in a research note on Friday, October 16th. They set an "overweight" rating and a $144.00 price objective on the stock. TD Cowen decreased their target price on shares of Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Echostar from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $139.44.

Echostar Trading Down 8.8%

Echostar stock opened at $89.92 on Friday. The company has a current ratio of 10.16, a quick ratio of 5.12 and a debt-to-equity ratio of 0.57. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25. The company has a 50-day simple moving average of $91.84.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $4.90. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $3.00 million. Echostar had a net margin of 81.29% and a return on equity of 22.85%. As a group, equities research analysts forecast that Echostar CORP will post -0.27 EPS for the current year.

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.

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