John Swieringa Sells 22,000 Shares of EchoStar (NASDAQ:SATS) Stock

EchoStar Corporation (NASDAQ:SATS) COO John Swieringa sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $67.34, for a total value of $1,481,480.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $81.20, for a total value of $12,572,602.00.

EchoStar Price Performance

Shares of SATS stock traded up $0.08 during trading hours on Tuesday, hitting $71.00. 2,278,020 shares of the company’s stock were exchanged, compared to its average volume of 3,626,562. The company has a market capitalization of $20.44 billion, a PE ratio of -67.62 and a beta of 0.94. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 1.28. EchoStar Corporation has a 12-month low of $14.90 and a 12-month high of $85.37. The business’s 50 day simple moving average is $73.10 and its 200-day simple moving average is $47.03.

EchoStar (NASDAQ:SATS) last released its earnings results on Thursday, November 6th. The communications equipment provider reported ($44.37) EPS for the quarter, missing the consensus estimate of ($1.23) by ($43.14). The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.75 billion. EchoStar had a negative net margin of 2.04% and a negative return on equity of 1.58%. EchoStar’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.52) EPS. On average, equities research analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SATS shares. Deutsche Bank Aktiengesellschaft set a $105.00 target price on EchoStar in a research note on Tuesday, September 9th. Citigroup boosted their price objective on EchoStar from $85.00 to $87.00 and gave the company a “neutral” rating in a research report 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 report on Tuesday, September 9th. Cowen reiterated a “buy” rating on shares of EchoStar in a report on Wednesday, August 27th. Finally, Zacks Research lowered shares of EchoStar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, EchoStar currently has an average rating of “Hold” and a consensus price target of $75.60.

Institutional Investors Weigh In On EchoStar

A number of large investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its holdings in EchoStar by 11.1% in the third quarter. Fifth Third Bancorp now owns 1,665 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 167 shares in the last quarter. Amalgamated Bank raised its position in shares of EchoStar by 0.5% in the 3rd quarter. Amalgamated Bank now owns 58,941 shares of the communications equipment provider’s stock worth $4,501,000 after purchasing an additional 293 shares during the last quarter. Voya Investment Management LLC boosted its stake in EchoStar by 0.8% in the 3rd quarter. Voya Investment Management LLC now owns 37,456 shares of the communications equipment provider’s stock worth $2,860,000 after purchasing an additional 298 shares in the last quarter. UMB Bank n.a. grew its position in EchoStar by 23.1% during the 3rd quarter. UMB Bank n.a. now owns 1,875 shares of the communications equipment provider’s stock valued at $143,000 after purchasing an additional 352 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in EchoStar by 79.1% during the 3rd quarter. Bessemer Group Inc. now owns 838 shares of the communications equipment provider’s stock valued at $64,000 after purchasing an additional 370 shares in the last quarter. 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.