Key Points
- EchoStar CEO Hamid Akhavan sold 52,586 shares on June 5 at an average price of $121.00, generating about $6.36 million. After the sale, he still held 865,633 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- EchoStar shares were essentially flat, opening at $116.77 and rising just 0.1% in the session. The stock has traded between a 52-week low of $15.86 and a high of $147.25.
- Recent fundamentals and analyst views are mixed: EchoStar reported a quarterly loss of $0.51 per share, slightly worse than expectations, while revenue topped estimates at $3.67 billion. Analysts currently rate the stock a consensus Hold with an average price target of $137.14.
EchoStar Corporation (NASDAQ:SATS - Get Free Report) CEO Hamid Akhavan sold 52,586 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $121.00, for a total value of $6,362,906.00. Following the transaction, the chief executive officer owned 865,633 shares of the company's stock, valued at approximately $104,741,593. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
EchoStar Stock Up 0.1%
NASDAQ:SATS opened at $116.77 on Wednesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.27 and a current ratio of 0.30. The company has a market cap of $33.84 billion, a PE ratio of -2.33 and a beta of 0.94. EchoStar Corporation has a 52-week low of $15.86 and a 52-week high of $147.25. The stock has a 50-day simple moving average of $125.86 and a 200 day simple moving average of $113.76.
EchoStar (NASDAQ:SATS - Get Free Report) last posted its quarterly earnings data on Saturday, May 9th. The communications equipment provider reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.03). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. EchoStar had a negative return on equity of 4.80% and a negative net margin of 97.56%.During the same quarter in the previous year, the business posted ($0.71) earnings per share. On average, sell-side analysts expect that EchoStar Corporation will post -3.79 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Wall Street Zen upgraded EchoStar from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Williams Trading set a $155.00 target price on EchoStar in a research note on Monday, May 18th. UBS Group lifted their target price on EchoStar from $125.00 to $127.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of EchoStar in a research note on Monday, April 20th. Finally, TD Cowen lifted their target price on EchoStar from $129.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, EchoStar presently has an average rating of "Hold" and an average price target of $137.14.
Get Our Latest Research Report on SATS
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. DLD Asset Management LP bought a new stake in EchoStar in the 3rd quarter valued at $2,481,700,000. Sachem Head Capital Management LP bought a new stake in EchoStar in the 4th quarter valued at $568,218,000. Icahn Carl C bought a new stake in EchoStar in the 3rd quarter valued at $332,513,000. Geode Capital Management LLC boosted its stake in EchoStar by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 3,524,576 shares of the communications equipment provider's stock valued at $382,595,000 after purchasing an additional 48,671 shares during the period. Finally, Contrarius Group Holdings Ltd boosted its stake in EchoStar by 68.6% in the 4th quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the communications equipment provider's stock valued at $237,154,000 after purchasing an additional 887,611 shares during the period. 33.62% of the stock is currently owned by institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
