Evergreen Capital Management LLC Sells 71,316 Shares of Echostar CORP $ECHO

Key Points

• Evergreen Capital Management cut its EchoStar position by 8.6%, selling 71,316 shares during the third quarter. It retained 760,316 shares valued at approximately $68 million, representing 1.2% of its portfolio.
• Other institutional investors generally increased their EchoStar holdings, while company insiders sold 13,508 shares worth about $1.22 million over the past three months. Institutional investors and hedge funds own 33.62% of the stock.
• Analysts maintain a broadly positive outlook, with EchoStar carrying an average “Buy” rating and a $138.56 price target. The company recently reported quarterly revenue of $3.58 billion and EPS of $24.12, though revenue declined 4% year over year and net margins remained negative.

Evergreen Capital Management LLC reduced its position in shares of Echostar CORP (NASDAQ:ECHO - Free Report) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,316 shares of the company's stock after selling 71,316 shares during the period. Echostar comprises 1.2% of Evergreen Capital Management LLC's portfolio, making the stock its 17th largest position. Evergreen Capital Management LLC owned 0.26% of Echostar worth $67,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ECHO. Fifth Third Wealth Advisors LLC purchased a new position in shares of Echostar in the third quarter valued at $269,000. Inspire Investing LLC grew its holdings in Echostar by 59,165.4% during the 3rd quarter. Inspire Investing LLC now owns 15,409 shares of the company's stock valued at $1,378,000 after purchasing an additional 15,383 shares in the last quarter. Yousif Capital Management LLC increased its stake in Echostar by 5.2% during the 3rd quarter. Yousif Capital Management LLC now owns 13,891 shares of the company's stock worth $1,242,000 after buying an additional 689 shares during the period. E. Ohman J or Asset Management AB increased its stake in Echostar by 103.6% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 4,520 shares of the company's stock worth $404,000 after buying an additional 2,300 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in Echostar by 13.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,222 shares of the company's stock worth $377,000 after buying an additional 503 shares during the period. 33.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Echostar

In other news, Director William Wade sold 2,575 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were 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 approximately $254,694.85. The trade was a 48.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Bye sold 8,508 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total transaction of $764,273.64. Following the completion of the sale, the director directly owned 653 shares of the company's stock, valued at $58,658.99. The trade was a 92.87% decrease in their position. The SEC filing for this sale provides additional information. 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reissued an "overweight" rating and issued a $134.00 price objective on shares of Echostar in a research report on Monday, September 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Echostar in a research report on Friday, October 2nd. Citigroup dropped their target price on Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. JPMorgan Chase & Co. initiated coverage on Echostar in a research note on Friday, October 16th. They issued an "overweight" rating and a $144.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Echostar presently has an average rating of "Buy" and an average price target of $138.56.

Echostar Trading Up 3.8%

ECHO stock opened at $89.08 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The stock's 50 day moving average is $90.53. The firm has a market capitalization of $25.88 billion, a P/E ratio of -3.57 and a beta of 0.99. Echostar CORP has a twelve month low of $65.76 and a twelve month high of $147.25.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $24.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $24.14. The firm had revenue of $3.58 billion for the quarter, compared to analysts' expectations of $3.59 billion. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.06) earnings per share. On average, research analysts predict 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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