Echostar CORP $ECHO Stock Acquired by Inspire Investing LLC

Key Points

• Inspire Investing LLC increased its EchoStar stake by 59,165.4% in the third quarter, ending with 15,409 shares worth approximately $1.38 million. Institutional investors own 33.62% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $138.56, although individual targets range from $117 to $144 and one firm maintains a sell rating.
• EchoStar shares opened at $89.26, near the middle of their $65.76–$147.25 12-month range. The company reported quarterly revenue of $3.58 billion and earnings of $24.12 per share, but still posted a negative net margin and revenue declined 4% year over year.

Inspire Investing LLC grew its holdings in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 59,165.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,409 shares of the company's stock after acquiring an additional 15,383 shares during the period. Inspire Investing LLC's holdings in Echostar were worth $1,378,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ECHO. Parallel Advisors LLC lifted its stake in Echostar by 4.1% in the first quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock valued at $245,000 after buying an additional 83 shares during the period. Strs Ohio boosted its holdings in shares of Echostar by 0.5% during the 1st quarter. Strs Ohio now owns 19,100 shares of the company's stock worth $2,236,000 after buying an additional 100 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Echostar by 1.1% during the 3rd quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company's stock worth $1,058,000 after buying an additional 123 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Echostar by 134.8% during the 1st quarter. NewEdge Advisors LLC now owns 324 shares of the company's stock worth $38,000 after buying an additional 186 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Echostar by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 12,487 shares of the company's stock worth $1,462,000 after buying an additional 187 shares during the period. 33.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ECHO shares. JPMorgan Chase & Co. assumed coverage on shares of Echostar in a research note on Friday, October 16th. They issued an "overweight" rating and a $144.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Echostar in a research note on Friday, October 2nd. Zacks Research raised shares of Echostar from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 19th. Citigroup reduced their price target on shares of Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Finally, TD Cowen decreased their price target on shares of Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $138.56.

Insider Activity

In other Echostar news, Director William Wade sold 2,425 shares of Echostar stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the completion of the transaction, the director owned 324 shares in the company, valued at approximately $29,639.52. The trade was a 88.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Bye sold 8,508 shares of Echostar stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the transaction, the director owned 653 shares of the company's stock, valued at $58,658.99. This trade represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,508 shares of company stock valued at $1,224,686. 54.60% of the stock is currently owned by insiders.

Echostar Trading Up 0.2%

Shares of ECHO opened at $89.26 on Tuesday. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25. The stock has a fifty day moving average price of $90.58. 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 (NASDAQ:ECHO - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $24.12 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $24.14. The business 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 quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.06) EPS. On average, equities research analysts expect that Echostar CORP will post -0.27 EPS for the current fiscal 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.

Want to see what other hedge funds are holding ECHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Echostar CORP (NASDAQ:ECHO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.