Echostar Co. (NASDAQ:SATS) Insider Pradman P. Kaul Sells 1,321 Shares

Echostar Co. (NASDAQ:SATS) insider Pradman P. Kaul sold 1,321 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $42.27, for a total transaction of $55,838.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SATS stock opened at $41.35 on Tuesday. The firm has a 50 day moving average of $39.79 and a 200-day moving average of $41.57. Echostar Co. has a 12-month low of $27.29 and a 12-month high of $43.04. The company has a current ratio of 6.35, a quick ratio of 6.17 and a debt-to-equity ratio of 0.67. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 108.82 and a beta of 0.80.

Echostar (NASDAQ:SATS) last posted its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.20. Echostar had a negative net margin of 5.86% and a negative return on equity of 0.31%. The company had revenue of $472.26 million during the quarter, compared to the consensus estimate of $470.15 million. During the same period last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Sell-side analysts forecast that Echostar Co. will post -0.79 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of SATS. Nuveen Asset Management LLC acquired a new stake in shares of Echostar during the 2nd quarter valued at approximately $14,790,000. Renaissance Technologies LLC lifted its position in shares of Echostar by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,551,580 shares of the communications equipment provider’s stock valued at $157,406,000 after acquiring an additional 270,500 shares during the period. Clearline Capital LP acquired a new stake in shares of Echostar during the 2nd quarter valued at approximately $11,478,000. Millennium Management LLC lifted its position in shares of Echostar by 1,583.8% during the 3rd quarter. Millennium Management LLC now owns 273,834 shares of the communications equipment provider’s stock valued at $10,849,000 after acquiring an additional 257,571 shares during the period. Finally, Park West Asset Management LLC lifted its position in shares of Echostar by 23.8% during the 2nd quarter. Park West Asset Management LLC now owns 971,662 shares of the communications equipment provider’s stock valued at $43,064,000 after acquiring an additional 186,615 shares during the period. Institutional investors own 46.35% of the company’s stock.

SATS has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Echostar from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 9th. ValuEngine downgraded shares of Echostar from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Citigroup downgraded shares of Echostar from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $48.00 to $44.00 in a research report on Friday, October 4th. BidaskClub downgraded shares of Echostar from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, Raymond James restated a “strong-buy” rating and issued a $61.00 price objective (down previously from $68.00) on shares of Echostar in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.67.

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.

Further Reading: Cost of Goods Sold (COGS)

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