Echostar CORP $ECHO Stock Position Lifted by Lancaster Investment Management

Key Points

• Lancaster Investment Management increased its EchoStar stake by 18.5% in the third quarter to 465,592 shares worth approximately $41.6 million, making ECHO its largest holding. Institutional investors collectively own 33.62% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $138.56; recent targets range from $115 to $150.
• EchoStar shares opened at $86.39, while the company reported quarterly revenue of $3.58 billion and adjusted earnings that significantly exceeded estimates. However, revenue declined 4% year over year and the company continues to report negative net margins.

Lancaster Investment Management boosted its position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 465,592 shares of the company's stock after buying an additional 72,583 shares during the quarter. Echostar makes up approximately 25.4% of Lancaster Investment Management's holdings, making the stock its largest holding. Lancaster Investment Management owned about 0.16% of Echostar worth $41,629,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ascentis Wealth Management LLC acquired a new stake in shares of Echostar in the 2nd quarter valued at $334,950,000. Tidal Investments LLC bought a new position in Echostar in the second quarter valued at about $159,344,000. Tema ETFs LLC boosted its holdings in 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 acquiring an additional 1,537,359 shares during the last quarter. Van ECK Associates Corp bought a new position in Echostar in the second quarter valued at about $139,004,000. Finally, Bank of America Corp DE increased its position in Echostar by 42.4% in the first quarter. Bank of America Corp DE now owns 1,069,301 shares of the company's stock worth $125,183,000 after purchasing an additional 318,248 shares during the period. Institutional investors and hedge funds own 33.62% of the company's stock.

Insider Transactions at Echostar

In other news, Director Stephen J. Bye sold 8,508 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the transaction, the director owned 653 shares of the company's stock, valued at $58,658.99. The trade was a 92.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Wade sold 2,575 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director owned 2,749 shares of the company's stock, valued at $254,694.85. This trade represents a 48.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,508 shares of company stock worth $1,224,686. Company insiders own 54.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on ECHO shares. Citigroup dropped their price objective on Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. JPMorgan Chase & Co. began coverage on shares of Echostar in a research note on Friday, October 16th. They issued an "overweight" rating and a $144.00 target price on the stock. UBS Group raised shares of Echostar from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $150.00 in a research note on Tuesday, September 8th. Morgan Stanley reiterated an "overweight" rating and set a $134.00 price target on shares of Echostar in a research report on Monday, September 14th. Finally, Raymond James Financial raised shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price target for the company in a research note on Friday, July 17th. Two investment 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $138.56.

Echostar Stock Up 0.2%

ECHO stock opened at $86.39 on Wednesday. Echostar CORP has a twelve month low of $65.76 and a twelve month high of $147.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 5.12 and a current ratio of 5.20. The firm has a market cap of $25.10 billion, a P/E ratio of -3.47 and a beta of 0.99. The company has a fifty day moving average of $90.71.

Echostar (NASDAQ:ECHO - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $24.12 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $24.14. The business had revenue of $3.58 billion during the quarter, compared to analysts' expectations of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.06) earnings per share. Research analysts anticipate that Echostar CORP will post -0.35 earnings per share for the current fiscal year.

About Echostar

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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