Virtue Capital Management LLC Purchases 10,160 Shares of Echostar CORP $ECHO

Virtue Capital Management LLC purchased a new position in Echostar CORP (NASDAQ:ECHO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,160 shares of the company’s stock, valued at approximately $908,000.

A number of other hedge funds also recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in Echostar in the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in shares of Echostar during the second quarter valued at approximately $28,000. SOA Wealth Advisors LLC. bought a new position in shares of Echostar during the first quarter valued at approximately $34,000. NewEdge Advisors LLC lifted its stake in Echostar by 134.8% in the first quarter. NewEdge Advisors LLC now owns 324 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares during the period. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in Echostar in the first quarter worth $39,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

Echostar Price Performance

Shares of ECHO opened at $98.23 on Tuesday. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average of $91.18. Echostar CORP has a 52 week low of $65.76 and a 52 week high of $147.25.

Echostar (NASDAQ:ECHO) last posted its quarterly earnings data on Monday, August 3rd. The company reported $24.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $24.14. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.59 billion. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.06) EPS. On average, analysts forecast that Echostar CORP will post -0.27 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Wade sold 2,425 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 324 shares in the company, valued at $29,639.52. This trade represents a 88.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Bye sold 8,508 shares of Echostar stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the completion of the transaction, the director directly owned 653 shares of the company’s stock, valued at approximately $58,658.99. This represents a 92.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,508 shares of company stock worth $1,224,686. Insiders own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ECHO has been the topic of several research analyst reports. TD Cowen reduced their price target on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Raymond James Financial upgraded shares of Echostar from a “market perform” rating to a “strong-buy” rating and set a $115.00 price objective for the company in a report on Friday, July 17th. Citigroup cut their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Echostar in a report on Friday, October 2nd. Finally, UBS Group raised Echostar from a “neutral” rating to a “buy” rating and increased their target price for the stock from $127.00 to $150.00 in a research report on Tuesday, September 8th. Two investment 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $138.56.

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.