EchoStar Corporation (SATS) Bonds Trading 0.6% Lower Insider Trade

An issue of EchoStar Corporation (NASDAQ:SATS) debt fell 0.6% as a percentage of its face value during trading on Friday after an insider sold shares in the company. The debt issue has a 7.625% coupon and will mature on June 15, 2021. The bonds in the issue are now trading at $113.50 and were trading at $113.38 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price. Specifically, insider Pradman P. Kaul sold 1,447 shares of EchoStar Corporation stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $57.79, for a total transaction of $83,622.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Pradman P. Kaul sold 14,999 shares of EchoStar Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $58.25, for a total transaction of $873,691.75. Following the transaction, the insider now owns 4,999 shares of the company’s stock, valued at approximately $291,191.75. The disclosure for this sale can be found here. Insiders sold 54,862 shares of company stock valued at $3,287,058 in the last quarter. Company insiders own 73.54% of the company’s stock.

A number of brokerages recently issued reports on SATS. Citigroup Inc. decreased their target price on shares of EchoStar Corporation from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, March 24th. Zacks Investment Research raised shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th.

The firm’s 50 day moving average price is $59.32 and its 200 day moving average price is $55.44. The firm has a market capitalization of $5.88 billion, a P/E ratio of 34.42 and a beta of 0.65.

EchoStar Corporation (NASDAQ:SATS) last announced its quarterly earnings results on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.17. The business had revenue of $443.20 million for the quarter, compared to analyst estimates of $447.17 million. EchoStar Corporation had a return on equity of 4.11% and a net margin of 6.30%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Equities research analysts predict that EchoStar Corporation will post $0.77 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Oconnor LLC raised its position in EchoStar Corporation by 73.7% in the first quarter. UBS Oconnor LLC now owns 124,873 shares of the communications equipment provider’s stock worth $7,112,000 after buying an additional 52,977 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of EchoStar Corporation by 0.6% in the first quarter. Public Employees Retirement System of Ohio now owns 15,071 shares of the communications equipment provider’s stock worth $858,000 after buying an additional 89 shares during the period. Goldman Sachs Group Inc. increased its stake in EchoStar Corporation by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 66,367 shares of the communications equipment provider’s stock worth $3,780,000 after buying an additional 1,011 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in EchoStar Corporation during the first quarter worth about $3,637,000. Finally, FNY Partners Fund LP bought a new position in shares of EchoStar Corporation during the first quarter valued at $142,000. Institutional investors own 44.84% of the company’s stock.

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EchoStar Corporation Company Profile

EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.

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