EchoStar (NASDAQ:SATS) COO John Swieringa Sells 22,000 Shares of 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 transaction of $1,481,480.00. Following the completion of the sale, the chief operating officer directly owned 283,509 shares in the company, valued at approximately $19,091,496.06. This represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

John Swieringa also recently made the following trade(s):

• On Tuesday, September 9th, John Swieringa sold 154,835 shares of EchoStar stock. The shares were sold at an average price of $81.20, for a total transaction of $12,572,602.00.

EchoStar Stock Performance

EchoStar stock opened at $71.00 on Wednesday. EchoStar Corporation has a 1-year low of $14.90 and a 1-year high of $85.37. The company’s 50-day moving average is $73.10 and its 200 day moving average is $47.03. The firm has a market capitalization of $20.44 billion, a P/E ratio of -67.62 and a beta of 0.94. 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 (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($43.14). EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Research analysts forecast that EchoStar Corporation will post -1.99 EPS for the current year.

Analyst Upgrades and Downgrades

SATS has been the subject of several research analyst reports. Cowen reiterated 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 report on Tuesday, September 9th. Citigroup upped their target price on shares of EchoStar from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Morgan Stanley raised their target price on shares of EchoStar from $59.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EchoStar in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.60.

Institutional Investors Weigh In On EchoStar

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in shares of EchoStar by 79.0% during the first quarter. Victory Capital Management Inc. now owns 80,223 shares of the communications equipment provider’s stock valued at $2,052,000 after purchasing an additional 35,395 shares in the last quarter. KLP Kapitalforvaltning AS lifted its holdings in EchoStar by 12.6% during the first quarter. KLP Kapitalforvaltning AS now owns 30,306 shares of the communications equipment provider’s stock worth $775,000 after buying an additional 3,400 shares during the period. Cetera Investment Advisers bought a new stake in EchoStar during the 1st quarter valued at $236,000. Inspire Advisors LLC purchased a new position in shares of EchoStar in the 1st quarter valued at $213,000. Finally, Picton Mahoney Asset Management bought a new position in shares of EchoStar in the 1st quarter worth $102,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.

About EchoStar

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.