Echostar CORP $ECHO Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its holdings in Echostar CORP (NASDAQ:ECHO) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 462,200 shares of the company’s stock after selling 14,700 shares during the period. Echostar comprises approximately 1.5% of Hennessy Advisors Inc.’s portfolio, making the stock its 11th largest holding. Hennessy Advisors Inc.’s holdings in Echostar were worth $41,325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Echostar by 4.1% during 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 last quarter. Strs Ohio increased its holdings in shares of Echostar by 0.5% in the first quarter. Strs Ohio now owns 19,100 shares of the company’s stock worth $2,236,000 after buying an additional 100 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Echostar by 1.1% in the 3rd quarter. Venture Visionary Partners LLC now owns 11,836 shares of the company’s stock valued at $1,058,000 after acquiring an additional 123 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in shares of Echostar by 1.7% in the 3rd quarter. Hanseatic Management Services Inc. now owns 9,383 shares of the company’s stock valued at $839,000 after acquiring an additional 158 shares during the last quarter. Finally, North Dakota State Investment Board boosted its stake in shares of Echostar by 3.9% during the third quarter. North Dakota State Investment Board now owns 4,206 shares of the company’s stock valued at $376,000 after purchasing an additional 158 shares during the period. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

Echostar Price Performance

Shares of ECHO stock opened at $96.94 on Monday. The business has a fifty day moving average price of $90.95. 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 stock has a market capitalization of $28.16 billion, a PE ratio of -3.89 and a beta of 1.06. Echostar CORP has a twelve month low of $65.76 and a twelve month high of $147.25.

Echostar (NASDAQ:ECHO) last announced its 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 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 company’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. Equities research analysts expect that Echostar CORP will post -0.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ECHO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on shares of Echostar in a report on Friday, October 16th. They issued an “overweight” rating and a $144.00 price target on the stock. Zacks Research upgraded shares of Echostar from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a report on Wednesday, July 15th. UBS Group upgraded Echostar from a “neutral” rating to a “buy” rating and upped their target price for the company from $127.00 to $150.00 in a report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Echostar in a research note on Friday, October 2nd. Two equities 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 MarketBeat.com, Echostar presently has a consensus rating of “Buy” and a consensus target price of $138.56.

Insider Transactions at Echostar

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 transaction of $238,573.75. Following the completion of the transaction, the director owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This trade represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Bye sold 8,508 shares of Echostar stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $89.83, for a total transaction of $764,273.64. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 corporate insiders.

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.