Michael T. Dugan Sells 50,000 Shares of Echostar Co. (SATS) Stock
Echostar Co. (NASDAQ:SATS) CEO Michael T. Dugan sold 50,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $37.23, for a total value of $1,861,500.00. Following the transaction, the chief executive officer now directly owns 75,146 shares in the company, valued at $2,797,685.58. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of SATS stock opened at $37.17 on Thursday. The company has a current ratio of 2.66, a quick ratio of 2.61 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $3.55 billion, a PE ratio of 97.82 and a beta of 0.94. Echostar Co. has a fifty-two week low of $33.58 and a fifty-two week high of $57.26.
Echostar (NASDAQ:SATS) last announced its quarterly earnings data on Thursday, February 21st. The communications equipment provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The firm had revenue of $530.70 million during the quarter, compared to analyst estimates of $546.55 million. Echostar had a negative net margin of 1.91% and a positive return on equity of 0.89%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share.
Hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. increased its holdings in shares of Echostar by 600.0% in the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 600 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Echostar by 580.5% in the fourth quarter. Meeder Asset Management Inc. now owns 1,994 shares of the communications equipment provider’s stock valued at $73,000 after purchasing an additional 1,701 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Echostar by 62.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,234 shares of the communications equipment provider’s stock valued at $83,000 after purchasing an additional 861 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Echostar in the fourth quarter valued at about $86,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Echostar in the fourth quarter valued at about $136,000. 46.66% of the stock is currently owned by institutional investors and hedge funds.
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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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