Mirae Asset Global Investments Co. Ltd. Purchases New Shares in Echostar CORP $ECHO

Mirae Asset Global Investments Co. Ltd. acquired a new position in Echostar CORP (NASDAQ:ECHO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 718,122 shares of the company’s stock, valued at approximately $64,207,000. Mirae Asset Global Investments Co. Ltd. owned about 0.25% of Echostar at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vise Technologies Inc. increased its position in Echostar by 17.4% in the third quarter. Vise Technologies Inc. now owns 5,098 shares of the company’s stock worth $456,000 after purchasing an additional 754 shares during the last quarter. MGO One Seven LLC lifted its position in Echostar by 5.5% during the third quarter. MGO One Seven LLC now owns 5,376 shares of the company’s stock valued at $481,000 after purchasing an additional 282 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in Echostar by 1.7% during the third quarter. Hanseatic Management Services Inc. now owns 9,383 shares of the company’s stock valued at $839,000 after purchasing an additional 158 shares during the last quarter. North Dakota State Investment Board lifted its position in 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 last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Echostar by 3.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 63,367 shares of the company’s stock worth $5,666,000 after buying an additional 2,305 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Echostar

In other Echostar news, Director Stephen Bye sold 8,508 shares of the firm’s 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 completion of the sale, the director owned 653 shares of the company’s stock, valued at $58,658.99. This trade 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 is available at this hyperlink. Also, Director William Wade sold 2,425 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $91.48, for a total value of $221,839.00. Following the transaction, the director owned 324 shares of the company’s stock, valued at $29,639.52. This trade represents a 88.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,508 shares of company stock worth $1,224,686 over the last three months. 54.60% of the stock is currently owned by corporate insiders.

Echostar Price Performance

NASDAQ ECHO opened at $96.94 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. Echostar CORP has a 52 week low of $65.76 and a 52 week high of $147.25. The stock has a market capitalization of $28.16 billion, a price-to-earnings ratio of -3.89 and a beta of 1.06. The stock’s fifty day moving average price is $90.95.

Echostar (NASDAQ:ECHO) last announced its earnings results on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $24.14. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.59 billion. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. Equities research analysts anticipate that Echostar CORP will post -0.27 EPS for the current year.

Analyst Upgrades and Downgrades

ECHO has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. TD Cowen lowered their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. JPMorgan Chase & Co. initiated coverage on Echostar in a research report on Friday, October 16th. They issued an “overweight” rating and a $144.00 price target for the company. Finally, Raymond James Financial upgraded Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price target for the company in a research report on Friday, July 17th. Two equities research 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 stock. Based on data from MarketBeat.com, Echostar currently has an average rating of “Buy” and a consensus target price of $138.56.

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.