EchoStar Corp. (SATS) EVP Kranti Kilaru Sells 50,615 Shares of Stock
EchoStar Corp. (NASDAQ:SATS) EVP Kranti Kilaru sold 50,615 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $50.20, for a total transaction of $2,540,873.00. Following the transaction, the executive vice president now directly owns 5,378 shares of the company’s stock, valued at approximately $269,975.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of EchoStar Corp. (NASDAQ:SATS) traded up 0.30% during midday trading on Friday, reaching $50.00. 40,290 shares of the company traded hands. The firm has a market capitalization of $4.70 billion, a P/E ratio of 22.43 and a beta of 0.84. The company has a 50 day moving average of $46.56 and a 200 day moving average of $41.18. EchoStar Corp. has a 12 month low of $30.86 and a 12 month high of $50.77.
EchoStar Corp. (NASDAQ:SATS) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. EchoStar Corp. had a net margin of 6.60% and a return on equity of 5.28%. The company earned $742 million during the quarter, compared to the consensus estimate of $735.61 million. During the same period in the previous year, the firm earned $0.32 earnings per share. EchoStar Corp.’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts predict that EchoStar Corp. will post $1.85 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on SATS shares. Zacks Investment Research upgraded shares of EchoStar Corp. from a “strong sell” rating to a “hold” rating in a report on Saturday, September 3rd. Citigroup Inc. raised their price objective on shares of EchoStar Corp. from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, TheStreet upgraded shares of EchoStar Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP increased its position in shares of EchoStar Corp. by 50.7% in the second quarter. Quantbot Technologies LP now owns 2,534 shares of the company’s stock valued at $100,000 after buying an additional 852 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of EchoStar Corp. by 12.8% in the second quarter. BNP Paribas Arbitrage SA now owns 2,903 shares of the company’s stock valued at $115,000 after buying an additional 330 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of EchoStar Corp. during the third quarter valued at $119,000. Paradigm Asset Management Co. LLC increased its position in shares of EchoStar Corp. by 13.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $169,000 after buying an additional 488 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of EchoStar Corp. during the second quarter valued at $169,000. Institutional investors and hedge funds own 44.04% of the company’s stock.
About EchoStar Corp.
EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments.
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