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 completion of the sale, the chief operating officer owned 283,509 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this link.

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 Price Performance

Shares of NASDAQ SATS opened at $70.88 on Friday. 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 Corporation has a 1-year low of $14.90 and a 1-year high of $85.37. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of -67.50 and a beta of 0.94. The business has a 50-day moving average of $73.07 and a 200-day moving average of $47.36.

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

Institutional Investors Weigh In On EchoStar

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new position in shares of EchoStar during the third quarter worth about $1,104,000. Danske Bank A S acquired a new stake in EchoStar during the third quarter valued at approximately $92,000. Caitong International Asset Management Co. Ltd bought a new position in EchoStar during the 3rd quarter worth approximately $38,000. Abel Hall LLC acquired a new position in shares of EchoStar in the 3rd quarter worth approximately $316,000. Finally, Two Seas Capital LP bought a new stake in shares of EchoStar in the 3rd quarter valued at approximately $22,333,000. Institutional investors own 33.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SATS. TD Cowen upped their target price on shares of EchoStar from $28.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Morgan Stanley upped their price objective on shares of EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 9th. Citigroup raised their target price on EchoStar from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a research note on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of EchoStar in a report on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.60.

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.