Echostar Co. (NASDAQ:SATS) CEO Michael T. Dugan sold 22,348 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $41.53, for a total value of $928,112.44. Following the completion of the transaction, the chief executive officer now directly owns 73,787 shares in the company, valued at $3,064,374.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of SATS stock traded down $0.68 during mid-day trading on Wednesday, reaching $40.71. The stock had a trading volume of 10,582 shares, compared to its average volume of 488,443. The firm’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $41.42. The company has a quick ratio of 6.17, a current ratio of 6.35 and a debt-to-equity ratio of 0.67. Echostar Co. has a one year low of $27.29 and a one year high of $43.04. The firm has a market cap of $4.00 billion, a PE ratio of 107.24 and a beta of 0.81.
Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.20. Echostar had a negative return on equity of 0.31% and a negative net margin of 5.86%. The company had revenue of $472.26 million during the quarter, compared to the consensus estimate of $470.15 million. During the same quarter last year, the company earned $0.17 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Sell-side analysts forecast that Echostar Co. will post -0.47 earnings per share for the current fiscal year.
SATS has been the topic of several research reports. Zacks Investment Research raised Echostar from a “strong sell” rating to a “hold” rating in a research report on Saturday. ValuEngine lowered Echostar from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. BidaskClub raised Echostar from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Raymond James reissued a “strong-buy” rating and set a $61.00 price objective (down previously from $68.00) on shares of Echostar in a report on Wednesday, September 11th. Finally, Citigroup lowered Echostar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $48.00 to $44.00 in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $49.67.
Several institutional investors have recently bought and sold shares of SATS. Nuveen Asset Management LLC bought a new position in shares of Echostar during the 2nd quarter worth approximately $14,790,000. Renaissance Technologies LLC lifted its position in shares of Echostar by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock worth $157,406,000 after buying an additional 270,500 shares during the period. Clearline Capital LP bought a new position in shares of Echostar during the 2nd quarter worth approximately $11,478,000. Park West Asset Management LLC lifted its position in shares of Echostar by 23.8% during the 2nd quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock worth $43,064,000 after buying an additional 186,615 shares during the period. Finally, AXA bought a new position in shares of Echostar during the 2nd quarter worth approximately $6,480,000. Institutional investors and hedge funds own 44.78% of the company’s stock.
Echostar Company Profile
EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.
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