Insider Selling: Echostar Co. (NASDAQ:SATS) CEO Sells 100,000 Shares of Stock

Echostar Co. (NASDAQ:SATS) CEO Michael T. Dugan sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

NASDAQ:SATS traded up $0.07 during mid-day trading on Friday, reaching $38.70. 669,208 shares of the company were exchanged, compared to its average volume of 407,801. The company has a quick ratio of 2.68, a current ratio of 6.10 and a debt-to-equity ratio of 0.62. Echostar Co. has a 12 month low of $33.58 and a 12 month high of $49.93. The stock has a market cap of $3.73 billion, a PE ratio of 101.84 and a beta of 0.76. The company has a fifty day moving average of $44.32 and a 200 day moving average of $41.27.

Echostar (NASDAQ:SATS) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.17). The firm had revenue of $537.12 million during the quarter, compared to analyst estimates of $538.80 million. Echostar had a negative net margin of 4.09% and a positive return on equity of 0.46%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities research analysts anticipate that Echostar Co. will post 1.01 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Macquarie Group Ltd. raised its position in shares of Echostar by 600.0% in the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 600 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Echostar during the 2nd quarter worth approximately $92,000. Ashburton Jersey Ltd bought a new position in shares of Echostar during the 2nd quarter worth approximately $107,000. Convergence Investment Partners LLC bought a new position in shares of Echostar during the 2nd quarter worth approximately $116,000. Finally, Silvercrest Asset Management Group LLC bought a new position in shares of Echostar during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 46.87% of the company’s stock.

Several equities research analysts have issued reports on the stock. Raymond James lowered their price target on shares of Echostar from $67.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Tuesday, May 21st. BidaskClub lowered shares of Echostar from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Zacks Investment Research raised shares of Echostar from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday. Finally, Daiwa Capital Markets lowered shares of Echostar from an “outperform” rating to a “neutral” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Echostar has a consensus rating of “Buy” and an average target price of $55.00.

About Echostar

EchoStar Corporation, together with its subsidiaries, provides broadband satellite technologies and broadband Internet services for home and small office customers, satellite operations, and satellite services worldwide. It operates in two segments, Hughes and EchoStar Satellite Services. The Hughes segments offers broadband satellite technologies and Internet services for home and small office customers; and broadband network technologies, managed services, equipment, hardware, satellite services, and communication solutions for aeronautical, enterprise, and government customers, as well as consumers.

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