Key Points
- John Swieringa, EchoStar's COO, sold 50,088 shares on March 4 at an average price of $113.58 for about $5.69 million, cutting his holding by 16.50% to 253,535 shares (≈$28.8M).
- EchoStar (NASDAQ:SATS) opened at $106.24, sits below its 50‑day MA ($115.54) but above its 200‑day MA ($88.93), has a $30.6B market cap and mixed fundamentals (52‑week range $14.90–$132.25, debt/equity 3.21, negative P/E), and carries a analyst consensus of "Moderate Buy" with an average target of $134.17.
EchoStar Corporation (NASDAQ:SATS - Get Free Report) COO John Swieringa sold 50,088 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $113.58, for a total transaction of $5,688,995.04. Following the completion of the transaction, the chief operating officer owned 253,535 shares of the company's stock, valued at approximately $28,796,505.30. This trade represents a 16.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
EchoStar Price Performance
Shares of NASDAQ:SATS opened at $106.24 on Friday. The firm's 50 day moving average is $115.54 and its two-hundred day moving average is $88.93. The firm has a market capitalization of $30.58 billion, a P/E ratio of -2.11 and a beta of 1.01. The company has a current ratio of 0.42, a quick ratio of 0.56 and a debt-to-equity ratio of 3.21. EchoStar Corporation has a 52 week low of $14.90 and a 52 week high of $132.25.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in EchoStar by 6.0% in the 1st quarter. AQR Capital Management LLC now owns 26,805 shares of the communications equipment provider's stock valued at $672,000 after acquiring an additional 1,511 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in EchoStar by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,482 shares of the communications equipment provider's stock worth $1,854,000 after buying an additional 3,199 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in EchoStar by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 331,476 shares of the communications equipment provider's stock worth $8,479,000 after buying an additional 24,749 shares during the last quarter. Strs Ohio bought a new position in shares of EchoStar in the first quarter valued at $128,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of EchoStar during the 2nd quarter valued at $217,000. 33.62% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SATS has been the subject of a number of analyst reports. Citigroup boosted their price target on EchoStar from $111.00 to $121.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 3rd. UBS Group lifted their price objective on shares of EchoStar from $125.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday. Zacks Research raised shares of EchoStar from a "hold" rating to a "strong-buy" rating in a report on Monday, February 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of EchoStar in a research report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of EchoStar from $97.00 to $131.00 and gave the company a "buy" rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $134.17.
Get Our Latest Analysis on EchoStar
EchoStar Company Profile
(
Get Free Report)
EchoStar Corporation (NASDAQ: SATS) is a global provider of satellite communication solutions, offering a suite of broadband and video delivery services to consumer, enterprise and government customers. The company operates two principal business segments: Broadband and Video. Through its Broadband segment, EchoStar delivers high-speed satellite internet access, managed network services and ground infrastructure for residential, commercial and rural markets. Its Video segment provides satellite fleet operations, teleport facilities and capacity-leasing services to video distributors and content providers.
In the Broadband segment, EchoStar's Hughes Network Systems division designs and manufactures satellite broadband equipment, including user terminals and gateways, and develops advanced network management technologies.
Further Reading
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