EchoStar Co. (NASDAQ:SATS – Get Free Report) was the target of unusually large options trading on Thursday. Stock traders acquired 6,855 put options on the company. This represents an increase of approximately 319% compared to the typical daily volume of 1,637 put options.
Analyst Ratings Changes
SATS has been the topic of a number of analyst reports. TheStreet downgraded shares of EchoStar from a “c” rating to a “d+” rating in a research report on Monday, November 6th. StockNews.com started coverage on shares of EchoStar in a research report on Monday. They set a “buy” rating for the company. Citigroup dropped their price objective on shares of EchoStar from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, October 16th. Finally, Raymond James dropped their price objective on shares of EchoStar from $54.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th.
Insiders Place Their Bets
In related news, Director C Mike Schroeder sold 3,020 shares of EchoStar stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $12.29, for a total transaction of $37,115.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 59.10% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of EchoStar by 27.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 39,376 shares of the communications equipment provider’s stock valued at $683,000 after acquiring an additional 8,554 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of EchoStar by 20.5% during the second quarter. Janney Montgomery Scott LLC now owns 24,924 shares of the communications equipment provider’s stock worth $432,000 after buying an additional 4,244 shares during the period. Brandywine Global Investment Management LLC grew its stake in shares of EchoStar by 2.9% in the second quarter. Brandywine Global Investment Management LLC now owns 95,704 shares of the communications equipment provider’s stock valued at $1,660,000 after buying an additional 2,659 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in shares of EchoStar by 1.6% in the second quarter. Hudson Bay Capital Management LP now owns 735,141 shares of the communications equipment provider’s stock valued at $12,747,000 after buying an additional 11,912 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in EchoStar by 42.8% during the 2nd quarter. Van ECK Associates Corp now owns 13,921 shares of the communications equipment provider’s stock worth $241,000 after acquiring an additional 4,171 shares in the last quarter. Hedge funds and other institutional investors own 97.19% of the company’s stock.
EchoStar Price Performance
SATS stock traded down $0.41 during mid-day trading on Thursday, reaching $16.24. 2,233,074 shares of the company’s stock were exchanged, compared to its average volume of 6,234,037. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 15.00 and a beta of 0.71. The stock’s 50 day moving average is $12.46 and its 200 day moving average is $15.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.23 and a quick ratio of 6.23. EchoStar has a 12-month low of $9.53 and a 12-month high of $24.80.
EchoStar (NASDAQ:SATS – Get Free Report) last posted its quarterly earnings data on Monday, November 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.17). The company had revenue of $413.07 million for the quarter, compared to analysts’ expectations of $479.00 million. EchoStar had a net margin of 5.14% and a return on equity of 3.47%. On average, research analysts expect that EchoStar will post 0.66 EPS for the current year.
About EchoStar
EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers.