Insider Selling: EchoStar (NASDAQ:SATS) Director Sells $1,379,691.90 in Stock

EchoStar Corporation (NASDAQ:SATS) Director Kathleen Abernathy sold 16,754 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $82.35, for a total transaction of $1,379,691.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

EchoStar Stock Down 2.8%

SATS opened at $74.89 on Friday. The company has a 50 day moving average of $39.94 and a 200 day moving average of $29.29. The company has a market cap of $21.55 billion, a PE ratio of -71.32 and a beta of 0.99. EchoStar Corporation has a 12 month low of $14.90 and a 12 month high of $85.37. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28.

EchoStar (NASDAQ:SATS) last announced its quarterly earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.06. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.80 billion. During the same period last year, the firm earned ($0.76) EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that EchoStar Corporation will post -1.99 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in EchoStar by 8,125.0% during the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 975 shares during the period. State of Wyoming purchased a new stake in shares of EchoStar in the fourth quarter worth $47,000. Fifth Third Bancorp increased its stake in shares of EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 567 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of EchoStar in the second quarter worth $73,000. Finally, GAMMA Investing LLC increased its stake in shares of EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 976 shares in the last quarter. 33.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of EchoStar from $59.00 to $91.00 and gave the company an “equal weight” rating in a report on Tuesday, September 9th. Citigroup reiterated a “neutral” rating on shares of EchoStar in a research report on Friday, August 29th. Cowen restated a “buy” rating on shares of EchoStar in a research report on Wednesday, August 27th. Deutsche Bank Aktiengesellschaft set a $105.00 price objective on shares of EchoStar in a research report on Tuesday. Finally, TD Cowen lifted 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. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, EchoStar has an average rating of “Hold” and a consensus price target of $63.90.

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.