Anders N. Johnson Sells 7,128 Shares of EchoStar Corporation (SATS) Stock
EchoStar Corporation (NASDAQ:SATS) insider Anders N. Johnson sold 7,128 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $58.72, for a total transaction of $418,556.16. Following the transaction, the insider now owns 2,000 shares in the company, valued at $117,440. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of EchoStar Corporation (NASDAQ SATS) opened at 59.80 on Friday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 47.50 and a beta of 0.72. The company has a 50 day moving average of $59.41 and a 200 day moving average of $58.04. EchoStar Corporation has a 1-year low of $38.08 and a 1-year high of $62.50.
EchoStar Corporation (NASDAQ:SATS) last issued its quarterly earnings data on Wednesday, August 9th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.05. EchoStar Corporation had a return on equity of 2.87% and a net margin of 5.03%. The company had revenue of $465.08 million for the quarter, compared to the consensus estimate of $455.25 million. During the same period in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that EchoStar Corporation will post $0.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Karp Capital Management Corp acquired a new position in EchoStar Corporation during the first quarter worth $840,000. Teza Capital Management LLC purchased a new position in shares of EchoStar Corporation during the first quarter worth approximately $239,000. Gamco Investors INC. ET AL increased its position in shares of EchoStar Corporation by 0.5% in the first quarter. Gamco Investors INC. ET AL now owns 594,379 shares of the communications equipment provider’s stock worth $33,850,000 after buying an additional 2,709 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of EchoStar Corporation by 28.2% in the first quarter. UBS Asset Management Americas Inc. now owns 38,902 shares of the communications equipment provider’s stock worth $2,215,000 after buying an additional 8,569 shares during the period. Finally, Swiss National Bank increased its position in shares of EchoStar Corporation by 1.1% in the first quarter. Swiss National Bank now owns 76,700 shares of the communications equipment provider’s stock worth $4,368,000 after buying an additional 800 shares during the period. 45.04% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. TheStreet cut shares of EchoStar Corporation from a “b-” rating to a “c+” rating in a report on Monday, August 21st. Zacks Investment Research upgraded shares of EchoStar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, May 13th. Finally, BidaskClub cut shares of EchoStar Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $62.33.
EchoStar Corporation Company Profile
EchoStar Corporation is a holding company. The Company is a provider of satellite operations, video delivery solutions, digital set-top boxes, and broadband satellite technologies and services for home and office, delivering network technologies, managed services, and solutions for enterprises and governments.
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