Stephen Bye Sells 8,508 Shares of Echostar (NASDAQ:ECHO) Stock

Key Points

• EchoStar Director Stephen Bye sold 8,508 shares at an average price of $89.83, generating approximately $764,274. After the transaction, his direct ownership fell 92.87% to 653 shares.
• EchoStar shares recently traded at $87.98, with a market capitalization of about $25.56 billion. The company reported quarterly revenue of $3.67 billion and a loss of $0.51 per share, alongside negative net margin and return on equity.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $132.00. Institutional investors own 33.62% of the company, with several major holders increasing their positions.

Echostar CORP (NASDAQ:ECHO - Get Free Report) Director Stephen Bye sold 8,508 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director directly owned 653 shares of the company's stock, valued at $58,658.99. This represents a 92.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Echostar Price Performance

ECHO traded down $1.17 during trading on Tuesday, hitting $87.98. The company's stock had a trading volume of 2,472,353 shares, compared to its average volume of 7,112,359. 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 quick ratio of 5.12 and a current ratio of 5.20. The firm has a market cap of $25.56 billion, a PE ratio of -3.53 and a beta of 1.03.

Echostar (NASDAQ:ECHO - Get Free Report) last announced its quarterly earnings data on Saturday, May 9th. The company reported ($0.51) EPS for the quarter. The company had revenue of $3.67 billion for the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, equities analysts anticipate that Echostar CORP will post 23.53 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $137.00 price target on shares of Echostar in a report on Wednesday, July 15th. Raymond James Financial raised shares of Echostar from a "market perform" rating to a "strong-buy" rating and set a $115.00 price objective on the stock in a research report on Friday, July 17th. Williams Trading set a $155.00 target price on Echostar in a research note on Monday, May 18th. New Street Research set a $165.00 target price on Echostar in a research report on Monday, June 15th. Finally, Wall Street Zen raised Echostar from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $132.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Sachem Head Capital Management LP bought a new stake in Echostar during the fourth quarter worth $568,218,000. Geode Capital Management LLC boosted its holdings in Echostar by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 3,524,576 shares of the company's stock worth $382,595,000 after acquiring an additional 48,671 shares during the last quarter. Contrarius Group Holdings Ltd boosted its holdings in Echostar by 68.6% during the 4th quarter. Contrarius Group Holdings Ltd now owns 2,181,728 shares of the company's stock worth $237,154,000 after acquiring an additional 887,611 shares during the last quarter. Northern Trust Corp grew its stake in shares of Echostar by 1.3% in the 4th quarter. Northern Trust Corp now owns 1,767,338 shares of the company's stock worth $192,110,000 after acquiring an additional 22,900 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Echostar in the fourth quarter valued at about $182,111,000. Institutional investors own 33.62% of the company's stock.

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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