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

Echostar CORP (NASDAQ:ECHO) Director William David Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $92.65, for a total transaction of $238,573.75. Following the sale, the director directly owned 2,749 shares in the company, valued at $254,694.85. The trade was a 48.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

ECHO stock opened at $91.89 on Friday. Echostar CORP has a 1 year low of $26.52 and a 1 year high of $147.25. The stock has a market capitalization of $26.69 billion, a P/E ratio of -3.69 and a beta of 1.03. The company has a quick ratio of 5.12, a current ratio of 5.20 and a debt-to-equity ratio of 1.13.

Echostar (NASDAQ:ECHO) last issued 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 during the quarter. Echostar had a negative return on equity of 1.28% and a negative net margin of 38.71%. On average, sell-side analysts expect that Echostar CORP will post -1.35 EPS for the current fiscal year.

Institutional Trading of Echostar

Hedge funds have recently made changes to their positions in the stock. Bellwether Advisors LLC bought a new position in shares of Echostar in the fourth quarter worth approximately $3,593,000. Dockside LLC purchased a new stake in shares of Echostar during the fourth quarter valued at approximately $1,554,000. Seven Grand Managers LLC purchased a new stake in shares of Echostar during the fourth quarter valued at approximately $21,740,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Echostar during the fourth quarter valued at approximately $28,994,000. Finally, Legal & General Group Plc increased its position in shares of Echostar by 47.0% during the fourth quarter. Legal & General Group Plc now owns 356,447 shares of the company’s stock valued at $38,746,000 after acquiring an additional 114,018 shares in the last quarter. 33.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ECHO. TD Cowen lowered their target price on Echostar from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Citigroup decreased their price objective on Echostar from $126.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Weiss Ratings began coverage on Echostar in a research report on Monday, July 6th. They set a “sell (d-)” rating for the company. New Street Research set a $165.00 target price on shares of Echostar in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 target price on shares of Echostar in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.