Echostar CORP $ECHO Position Raised by Lancaster Investment Management

Lancaster Investment Management grew its position in shares of Echostar CORP (NASDAQ:ECHO) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 465,592 shares of the company’s stock after acquiring an additional 72,583 shares during the quarter. Echostar accounts for 25.4% of Lancaster Investment Management’s holdings, making the stock its biggest position. Lancaster Investment Management’s holdings in Echostar were worth $41,629,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ECHO has been the topic of several analyst reports. Raymond James Financial raised shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target on the stock in a research report on Friday, July 17th. Citigroup reduced their price objective on shares of Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price objective on shares of Echostar in a report on Wednesday, July 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $134.00 target price on shares of Echostar in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. initiated coverage on Echostar in a research report on Friday, October 16th. They issued an “overweight” rating and a $144.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $138.56.

Insiders Place Their Bets

In other news, Director Stephen J. Bye sold 8,508 shares of the 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 directly owned 653 shares of the company’s stock, valued at $58,658.99. This represents a 92.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Wade sold 2,575 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75. Following the sale, the director owned 2,749 shares of the company’s stock, valued at approximately $254,694.85. This represents a 48.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,508 shares of company stock valued at $1,224,686. Company insiders own 54.60% of the company’s stock.

Echostar Price Performance

Shares of ECHO stock opened at $86.39 on Wednesday. The company has a fifty day moving average price of $90.71. Echostar CORP has a one year low of $65.76 and a one year high of $147.25. The firm has a market capitalization of $25.10 billion, a PE ratio of -3.47 and a beta of 0.99. 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) last released its quarterly earnings data on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $24.14. The company had revenue of $3.58 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.06) EPS. As a group, equities research analysts anticipate that Echostar CORP will post -0.35 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.