Great West Life Assurance Co. Can lowered its position in shares of DISH Network Corp (NASDAQ:DISH) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,876 shares of the company’s stock after selling 4,096 shares during the quarter. Great West Life Assurance Co. Can’s holdings in DISH Network were worth $6,179,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in DISH Network in the 4th quarter valued at about $105,000. MUFG Americas Holdings Corp increased its position in DISH Network by 86.7% in the 4th quarter. MUFG Americas Holdings Corp now owns 2,800 shares of the company’s stock valued at $133,000 after acquiring an additional 1,300 shares in the last quarter. NuWave Investment Management LLC increased its position in DISH Network by 102.2% in the 1st quarter. NuWave Investment Management LLC now owns 3,138 shares of the company’s stock valued at $118,000 after acquiring an additional 1,586 shares in the last quarter. Tower Research Capital LLC TRC increased its position in DISH Network by 249.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,355 shares of the company’s stock valued at $160,000 after acquiring an additional 2,394 shares in the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in DISH Network in the 4th quarter valued at about $363,000. Institutional investors and hedge funds own 47.79% of the company’s stock.
In other news, Chairman Charles W. Ergen acquired 100,000 shares of DISH Network stock in a transaction that occurred on Thursday, May 31st. The shares were acquired at an average price of $29.37 per share, with a total value of $2,937,000.00. Following the purchase, the chairman now directly owns 696,470 shares of the company’s stock, valued at $20,455,323.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Defranco acquired 10,000 shares of DISH Network stock in a transaction that occurred on Monday, June 4th. The shares were purchased at an average cost of $29.20 per share, for a total transaction of $292,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 115,000 shares of company stock worth $3,389,450 and have sold 1,190 shares worth $44,907. 49.20% of the stock is owned by company insiders.
Several equities research analysts have weighed in on DISH shares. SunTrust Banks lowered their price objective on shares of DISH Network to $44.00 and set a “hold” rating for the company in a research report on Thursday, March 1st. Moffett Nathanson upgraded shares of DISH Network from a “sell” rating to a “neutral” rating and set a $37.00 price objective for the company in a research report on Friday, March 23rd. They noted that the move was a valuation call. Cowen set a $54.00 price objective on shares of DISH Network and gave the company a “buy” rating in a research report on Monday, March 26th. ValuEngine lowered shares of DISH Network from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, Barclays reduced their target price on shares of DISH Network from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $55.42.
Shares of NASDAQ DISH opened at $34.91 on Friday. DISH Network Corp has a 1 year low of $28.80 and a 1 year high of $66.50. The stock has a market capitalization of $15.77 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of -6.53 and a beta of 1.11. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.66 and a current ratio of 0.74.
DISH Network (NASDAQ:DISH) last released its quarterly earnings data on Tuesday, May 8th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.02). DISH Network had a return on equity of 20.48% and a net margin of 14.75%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. analysts expect that DISH Network Corp will post 2.58 EPS for the current year.
DISH Network Profile
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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