EchoStar (NASDAQ:SATS) COO Sells $1,481,480.00 in Stock

EchoStar Corporation (NASDAQ:SATS) COO John Swieringa sold 22,000 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $67.34, for a total value of $1,481,480.00. Following the sale, the chief operating officer owned 283,509 shares in the company, valued at approximately $19,091,496.06. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

John Swieringa also recently made the following trade(s):

• On Tuesday, September 9th, John Swieringa sold 154,835 shares of EchoStar stock. The stock was sold at an average price of $81.20, for a total value of $12,572,602.00.

EchoStar Stock Performance

Shares of EchoStar stock traded up $0.08 during trading on Tuesday, hitting $71.00. 2,278,020 shares of the company’s stock traded hands, compared to its average volume of 3,626,562. EchoStar Corporation has a 1 year low of $14.90 and a 1 year high of $85.37. The business has a 50-day simple moving average of $73.10 and a 200-day simple moving average of $47.03. The stock has a market capitalization of $20.44 billion, a P/E ratio of -67.62 and a beta of 0.94. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15.

EchoStar (NASDAQ:SATS) last posted its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company posted ($0.52) EPS. EchoStar’s revenue was down 7.1% on a year-over-year basis. As a group, analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cowen reiterated a “buy” rating on shares of EchoStar in a research note on Wednesday, August 27th. Morgan Stanley raised their target price on EchoStar from $59.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. TD Cowen upped their price target on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators bought a new position in EchoStar in the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of EchoStar in the 3rd quarter worth approximately $38,000. Bessemer Group Inc. raised its stake in shares of EchoStar by 79.1% during the 3rd quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 370 shares in the last quarter. Farther Finance Advisors LLC lifted its position in EchoStar by 593.2% during the third quarter. Farther Finance Advisors LLC now owns 922 shares of the communications equipment provider’s stock valued at $70,000 after acquiring an additional 789 shares during the last quarter. Finally, Danske Bank A S purchased a new position in EchoStar in the third quarter worth $92,000. 33.62% of the stock is owned by institutional investors.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.