Echostar (NASDAQ:ECHO) Director William David Wade Sells 2,575 Shares

Key Points

• EchoStar director William David Wade sold 2,575 shares at an average price of $92.65, generating approximately $238,574. Following the transaction, his ownership fell 48.37% to 2,749 shares.
• EchoStar shares closed at $91.89, while the company reported quarterly revenue of $3.67 billion and a loss of $0.51 per share. Analysts expect a full-year loss of $1.35 per share.
• Wall Street maintains a “Moderate Buy” consensus with an average price target of $132, although target prices were recently reduced by TD Cowen and Citigroup. Institutional investors own 33.62% of the company.

Echostar CORP (NASDAQ:ECHO - Get Free Report) Director William David Wade sold 2,575 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total value of $238,573.75. Following the completion of the sale, the director owned 2,749 shares in the company, valued at $254,694.85. This represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $91.48, for a total transaction of $221,839.00.

Echostar Price Performance

NASDAQ:ECHO traded up $0.21 on Friday, reaching $91.89. The stock had a trading volume of 2,112,664 shares, compared to its average volume of 7,037,955. Echostar CORP has a 12-month low of $26.52 and a 12-month high of $147.25. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of -3.69 and a beta of 1.03. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Research analysts expect that Echostar CORP will post -1.35 EPS for the current year.

Institutional Trading of Echostar

Large investors have recently bought and sold shares of the company. Great Lakes Advisors LLC purchased a new position in shares of Echostar in the second quarter valued at $1,562,000. Mirabella Financial Services LLP acquired a new position in shares of Echostar in the 2nd quarter valued at approximately $603,000. MGO One Seven LLC acquired a new position in shares of Echostar in the 2nd quarter valued at approximately $517,000. Levin Capital Strategies L.P. bought a new position in Echostar during the 2nd quarter valued at $913,000. Finally, Aberdeen Group plc bought a new position in shares of Echostar during the second quarter worth about $743,000. Institutional investors and hedge funds own 33.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ECHO shares. TD Cowen decreased their price objective on Echostar from $155.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Echostar from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. New Street Research set a $165.00 target price on shares of Echostar in a research report on Monday, June 15th. Weiss Ratings assumed coverage on shares of Echostar in a report on Monday, July 6th. They issued a "sell (d-)" rating for the company. Finally, Citigroup lowered their price objective on shares of Echostar from $126.00 to $117.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Echostar currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.00.

Echostar Company Profile

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.

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