An issue of DISH Network Corp (NASDAQ:DISH) bonds fell 0.5% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 5.875% coupon and is set to mature on November 15, 2024. The bonds in the issue are now trading at $97.25 and were trading at $97.25 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
DISH has been the topic of a number of research reports. Wells Fargo & Co reissued an “outperform” rating and set a $88.50 target price on shares of DISH Network in a report on Thursday, August 31st. Morgan Stanley reissued a “buy” rating and set a $75.00 target price on shares of DISH Network in a report on Tuesday, October 17th. Zacks Investment Research raised shares of DISH Network from a “sell” rating to a “hold” rating in a research note on Friday, October 20th. Pivotal Research raised shares of DISH Network from a “hold” rating to a “buy” rating and reduced their price objective for the company from $68.00 to $65.00 in a research note on Monday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $54.00 price objective (down from $56.00) on shares of DISH Network in a research note on Wednesday, November 22nd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $63.92.
Shares of DISH Network Corp (NASDAQ DISH) traded down $0.10 during trading hours on Friday, reaching $47.75. The company had a trading volume of 1,240,000 shares, compared to its average volume of 2,060,000. The company has a market capitalization of $22,270.00, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.33 and a beta of 1.09. DISH Network Corp has a 1 year low of $46.07 and a 1 year 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.
Several institutional investors and hedge funds have recently made changes to their positions in DISH. Vanguard Group Inc. increased its stake in DISH Network by 2.9% in the second quarter. Vanguard Group Inc. now owns 14,678,892 shares of the company’s stock valued at $921,246,000 after acquiring an additional 409,704 shares during the period. BlackRock Inc. grew its stake in shares of DISH Network by 1.9% during the second quarter. BlackRock Inc. now owns 13,685,941 shares of the company’s stock valued at $858,929,000 after purchasing an additional 259,139 shares during the last quarter. FMR LLC grew its stake in shares of DISH Network by 22.7% during the second quarter. FMR LLC now owns 4,498,307 shares of the company’s stock valued at $282,314,000 after purchasing an additional 831,768 shares during the last quarter. Paulson & CO. Inc. grew its stake in shares of DISH Network by 15.9% during the second quarter. Paulson & CO. Inc. now owns 3,998,800 shares of the company’s stock valued at $250,965,000 after purchasing an additional 548,700 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of DISH Network by 0.9% during the third quarter. Gamco Investors INC. ET AL now owns 2,830,465 shares of the company’s stock valued at $153,496,000 after purchasing an additional 25,695 shares during the last quarter. 48.54% of the stock is owned by institutional investors and hedge funds.
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About DISH Network
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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