State Treasurer State of Michigan reduced its position in DISH Network Corporation (NASDAQ:DISH) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,100 shares of the company’s stock after selling 5,700 shares during the quarter. State Treasurer State of Michigan’s holdings in DISH Network Corporation were worth $3,747,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Sun Life Financial INC boosted its stake in DISH Network Corporation by 20,725.0% in the second quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock valued at $105,000 after acquiring an additional 1,658 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new stake in DISH Network Corporation in the third quarter valued at approximately $140,000. Paradigm Asset Management Co. LLC boosted its stake in DISH Network Corporation by 4.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock valued at $157,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank boosted its stake in DISH Network Corporation by 12.1% in the second quarter. Huntington National Bank now owns 2,600 shares of the company’s stock valued at $163,000 after acquiring an additional 281 shares in the last quarter. Finally, Global X Management Co. LLC lifted its stake in shares of DISH Network Corporation by 123.9% during the second quarter. Global X Management Co. LLC now owns 3,009 shares of the company’s stock worth $189,000 after buying an additional 1,665 shares during the period. 48.76% of the stock is currently owned by institutional investors.
Shares of DISH Network Corporation (NASDAQ DISH) traded up $0.05 during trading on Tuesday, hitting $50.86. 2,263,800 shares of the stock traded hands, compared to its average volume of 2,711,088. DISH Network Corporation has a fifty-two week low of $46.07 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.57 and a current ratio of 0.63. The firm has a market cap of $23,683.15, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.38 and a beta of 1.08.
DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Thursday, November 9th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.03). The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.60 billion. DISH Network Corporation had a net margin of 7.22% and a return on equity of 25.97%. The company’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. analysts expect that DISH Network Corporation will post 2.06 earnings per share for the current year.
In related news, EVP Jeffrey L. Mcschooler sold 785 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $56.61, for a total transaction of $44,438.85. Following the completion of the sale, the executive vice president now owns 165 shares in the company, valued at approximately $9,340.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,110 shares of company stock valued at $62,046. 49.30% of the stock is owned by company insiders.
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Several equities research analysts have recently commented on the stock. Citigroup Inc. downgraded shares of DISH Network Corporation from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $94.00 to $52.00 in a research note on Wednesday, July 26th. BidaskClub cut shares of DISH Network Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Macquarie reissued a “hold” rating and set a $68.00 target price on shares of DISH Network Corporation in a report on Thursday, August 3rd. Telsey Advisory Group cut their price objective on shares of DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, August 4th. Finally, TheStreet cut shares of DISH Network Corporation from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. DISH Network Corporation has a consensus rating of “Hold” and a consensus target price of $65.39.
DISH Network Corporation 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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