Insider Selling: Echostar Co. (SATS) EVP Sells 1,469 Shares of Stock
Echostar Co. (NASDAQ:SATS) EVP Dean Manson sold 1,469 shares of Echostar stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $58.07, for a total transaction of $85,304.83. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Echostar Co. (NASDAQ:SATS) traded down 0.10% on Tuesday, hitting $58.68. 239,016 shares of the stock were exchanged. The company has a 50-day moving average price of $57.37 and a 200 day moving average price of $53.90. The company has a market cap of $5.60 billion, a PE ratio of 32.80 and a beta of 0.68. Echostar Co. has a 12 month low of $36.43 and a 12 month high of $59.37.
Echostar (NASDAQ:SATS) last issued its quarterly earnings results on Wednesday, May 10th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.17. The company had revenue of $443.20 million during the quarter, compared to analyst estimates of $447.17 million. Echostar had a net margin of 6.60% and a return on equity of 5.28%. Echostar’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Equities analysts forecast that Echostar Co. will post $0.56 EPS for the current fiscal year.
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A number of research analysts have recently issued reports on SATS shares. Zacks Investment Research upgraded shares of Echostar from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, March 1st. Citigroup Inc reduced their price objective on shares of Echostar from $71.00 to $70.00 and set a “buy” rating for the company in a report on Friday, March 24th.
Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Partners Fund LP acquired a new position in shares of Echostar during the first quarter valued at about $142,000. James Investment Research Inc. acquired a new position in shares of Echostar during the first quarter valued at about $145,000. Pacer Advisors Inc. raised its position in shares of Echostar by 9.3% in the third quarter. Pacer Advisors Inc. now owns 4,660 shares of the communications equipment provider’s stock valued at $204,000 after buying an additional 396 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Echostar during the first quarter valued at about $210,000. Finally, Teza Capital Management LLC acquired a new position in shares of Echostar during the first quarter valued at about $239,000. Institutional investors own 44.28% of the company’s stock.
Echostar 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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