Pekin Hardy Strauss Inc. Sells 6,871 Shares of Echostar CORP $ECHO

Pekin Hardy Strauss Inc. lowered its holdings in shares of Echostar CORP (NASDAQ:ECHO) by 11.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 55,639 shares of the company’s stock after selling 6,871 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Echostar were worth $4,975,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. ACR Alpine Capital Research LLC boosted its holdings in shares of Echostar by 21.2% during the 3rd quarter. ACR Alpine Capital Research LLC now owns 80,058 shares of the company’s stock worth $7,158,000 after buying an additional 14,008 shares in the last quarter. Quadcap Wealth Management LLC grew its position in shares of Echostar by 15.7% during the 3rd quarter. Quadcap Wealth Management LLC now owns 8,025 shares of the company’s stock worth $718,000 after buying an additional 1,090 shares during the period. Rakuten Investment Management Inc. grew its position in shares of Echostar by 11.0% during the 3rd quarter. Rakuten Investment Management Inc. now owns 24,349 shares of the company’s stock worth $2,189,000 after buying an additional 2,422 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Echostar by 0.8% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 16,977 shares of the company’s stock worth $1,518,000 after buying an additional 140 shares during the period. Finally, Virtue Capital Management LLC bought a new stake in shares of Echostar in the 3rd quarter valued at $908,000. 33.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Echostar in a research report on Friday, October 2nd. UBS Group increased their target price on shares of Echostar from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. Zacks Research raised shares of Echostar from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Morgan Stanley decreased their price target on shares of Echostar from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Wednesday. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $139.44.

Echostar Stock Performance

ECHO stock opened at $89.92 on Friday. The business’s 50 day moving average price is $91.84. Echostar CORP has a fifty-two week low of $65.76 and a fifty-two week high of $147.25. The company has a current ratio of 10.16, a quick ratio of 5.12 and a debt-to-equity ratio of 0.57. The firm has a market cap of $26.12 billion, a P/E ratio of -3.61 and a beta of 1.06.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $7.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $4.90. Echostar had a return on equity of 22.85% and a net margin of 81.29%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $3.00 million. Equities analysts predict that Echostar CORP will post -0.27 earnings per share for the current year.

Insider Activity at Echostar

In other news, Director William Wade sold 2,425 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $91.48, for a total transaction of $221,839.00. Following the transaction, the director directly owned 324 shares of the company’s stock, valued at $29,639.52. This represents a 88.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is currently owned by corporate insiders.

Echostar Company 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.