Traders Buy DISH Network Corporation (DISH) on Weakness
Investors purchased shares of DISH Network Corporation (NASDAQ:DISH) on weakness during trading on Monday. $49.69 million flowed into the stock on the tick-up and $18.89 million flowed out of the stock on the tick-down, for a money net flow of $30.80 million into the stock. Of all companies tracked, DISH Network Corporation had the 21st highest net in-flow for the day. DISH Network Corporation traded down ($1.65) for the day and closed at $51.68
DISH has been the subject of several research reports. Citigroup Inc. raised DISH Network Corporation from a “sell” rating to a “neutral” rating and set a $54.00 target price for the company in a research report on Friday, September 15th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $88.50 target price on shares of DISH Network Corporation in a research report on Thursday, August 31st. BidaskClub downgraded DISH Network Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. TheStreet downgraded DISH Network Corporation from a “b” rating to a “c+” rating in a research report on Thursday, August 3rd. Finally, Macquarie reaffirmed a “hold” rating and issued a $60.00 target price (down from $68.00) on shares of DISH Network Corporation in a research report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $68.18.
The stock has a market capitalization of $24.10 billion, a P/E ratio of 24.05 and a beta of 0.99. The firm’s 50 day moving average price is $54.74 and its 200 day moving average price is $60.76.
DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.67). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. DISH Network Corporation’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities analysts expect that DISH Network Corporation will post $2.13 EPS for the current year.
In related news, CEO Roger Lynch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.73, for a total value of $1,493,250.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey L. Mcschooler sold 785 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.61, for a total value of $44,438.85. Following the completion of the sale, the executive vice president now directly owns 165 shares in the company, valued at approximately $9,340.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,110 shares of company stock valued at $1,555,296. Insiders own 49.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department lifted its holdings in shares of DISH Network Corporation by 10.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 168,943 shares of the company’s stock worth $10,603,000 after purchasing an additional 15,978 shares during the last quarter. Swiss National Bank lifted its holdings in shares of DISH Network Corporation by 3.3% in the 2nd quarter. Swiss National Bank now owns 829,109 shares of the company’s stock worth $52,035,000 after purchasing an additional 26,200 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of DISH Network Corporation in the 2nd quarter worth approximately $304,000. Artemis Investment Management LLP lifted its holdings in shares of DISH Network Corporation by 29.8% in the 2nd quarter. Artemis Investment Management LLP now owns 129,944 shares of the company’s stock worth $8,156,000 after purchasing an additional 29,821 shares during the last quarter. Finally, CenturyLink Investment Management Co bought a new stake in shares of DISH Network Corporation in the 2nd quarter worth approximately $883,000. 48.93% of the stock is currently owned by institutional investors and hedge funds.
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DISH Network Corporation Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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