75,905 Echostar CORP $ECHO Shares Sold by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC cut its EchoStar position by 96.1%, selling 75,905 shares in the third quarter and retaining 3,116 shares valued at approximately $279,000.
• EchoStar insiders sold 13,508 shares worth about $1.22 million over the past 90 days, while institutional investors own 33.62% of the company.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $138.56, despite EchoStar’s negative net margin and year-over-year revenue decline.

Counterpoint Mutual Funds LLC reduced its position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 96.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,116 shares of the company's stock after selling 75,905 shares during the period. Counterpoint Mutual Funds LLC's holdings in Echostar were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Echostar in the 3rd quarter worth about $25,000. Strive Financial Group LLC bought a new stake in shares of Echostar during the 2nd quarter valued at about $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of Echostar during the first quarter worth about $34,000. Pittenger & Anderson Inc. purchased a new position in shares of Echostar during the second quarter worth about $38,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Echostar by 134.8% during the first quarter. NewEdge Advisors LLC now owns 324 shares of the company's stock worth $38,000 after purchasing an additional 186 shares in the last quarter. Institutional investors own 33.62% of the company's stock.

Insider Buying and Selling

In other news, Director Stephen J. Bye sold 8,508 shares of Echostar stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares in the company, valued at approximately $58,658.99. This trade represents a 92.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Wade sold 2,575 shares of the business'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 transaction, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,508 shares of company stock valued at $1,224,686 in the last ninety days. 54.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ECHO. Raymond James Financial upgraded shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price objective on the stock in a research report on Friday, July 17th. UBS Group upgraded shares of Echostar from a "neutral" rating to a "buy" rating and lifted their target price for the company from $127.00 to $150.00 in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $137.00 price target on shares of Echostar in a research note on Wednesday, July 15th. Morgan Stanley reissued an "overweight" rating and issued a $134.00 price target on shares of Echostar in a report on Monday, September 14th. Finally, Citigroup lowered their price objective on shares of Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.56.

Echostar Trading Up 1.0%

ECHO stock opened at $86.20 on Tuesday. The stock has a market capitalization of $25.04 billion, a PE ratio of -3.46 and a beta of 0.99. The company has a 50-day moving average price of $90.74. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $24.14. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.59 billion. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Echostar's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.06) earnings per share. Equities analysts predict that Echostar CORP will post -1.35 EPS for the current year.

Echostar Company 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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