Echostar (NASDAQ:ECHO) Director Sells $238,573.75 in Stock

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,575 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total value of $238,573.75. Following the transaction, the director owned 2,749 shares in the company, valued at $254,694.85. The trade was a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

William David Wade also recently made the following trade(s):

• On Thursday, August 13th, William David Wade sold 2,425 shares of Echostar stock. The stock was sold at an average price of $91.48, for a total value of $221,839.00.

Echostar Stock Performance

Shares of ECHO stock opened at $91.89 on Monday. Echostar CORP has a twelve month low of $26.52 and a twelve month high of $147.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 5.20 and a quick ratio of 5.12. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03.

Echostar (NASDAQ:ECHO) last announced its quarterly earnings results on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The firm had revenue of $3.67 billion for the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Equities research analysts predict that Echostar CORP will post -1.35 earnings per share for the current fiscal year.

Institutional Trading of Echostar

Several hedge funds have recently modified their holdings of ECHO. Sachem Head Capital Management LP bought a new position in shares of Echostar during the 4th quarter worth approximately $568,218,000. Geode Capital Management LLC grew its holdings in Echostar by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,524,576 shares of the company’s stock worth $382,595,000 after purchasing an additional 48,671 shares during the last quarter. Contrarius Group Holdings Ltd increased its position in shares of Echostar by 68.6% during the fourth quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the company’s stock worth $237,154,000 after purchasing an additional 887,611 shares in the last quarter. Northern Trust Corp increased its position in shares of Echostar by 1.3% during the fourth quarter. Northern Trust Corp now owns 1,767,338 shares of the company’s stock worth $192,110,000 after purchasing an additional 22,900 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Echostar during the 4th quarter valued at $182,111,000. 33.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Cowen cut their target price on shares of Echostar from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price target on shares of Echostar in a research report on Wednesday, July 15th. Citigroup cut their price objective on shares of Echostar from $126.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings began coverage on shares of Echostar in a research note on Monday, July 6th. They issued a “sell (d-)” rating for the company. Finally, Wall Street Zen upgraded Echostar from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Echostar has a consensus rating of “Moderate Buy” and an average target price of $132.00.

About Echostar

EchoStar Corporation is a communications company that provides satellite and wireless services, video distribution, and broadband connectivity solutions. Its business has historically been centered on satellite technology and related services, serving customers through a range of connectivity and network offerings.

The company operates through several segments that support pay-TV, enterprise, government, and consumer communications needs. Its services and technologies have included satellite television distribution, broadband satellite access, network infrastructure, and wireless communications capabilities.

EchoStar was founded in 1980 and has long been associated with satellite communications in the United States.