DISH Network Corp (NASDAQ:DISH) Sees Significant Decline in Short Interest

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DISH Network Corp (NASDAQ:DISH) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 15,418,700 shares, a decrease of 8.6% from the July 31st total of 16,875,100 shares. Based on an average daily trading volume, of 2,950,000 shares, the short-interest ratio is presently 5.2 days. Currently, 6.8% of the company’s stock are sold short.

NASDAQ DISH traded down $0.63 during trading hours on Friday, hitting $35.26. 2,484,019 shares of the company traded hands, compared to its average volume of 2,126,347. The business’s 50-day moving average is $33.70 and its 200-day moving average is $35.09. DISH Network has a twelve month low of $23.22 and a twelve month high of $44.65. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 11.75 and a beta of 1.39.

DISH Network (NASDAQ:DISH) last released its quarterly earnings data on Monday, July 29th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.05). The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.14 billion. DISH Network had a net margin of 10.88% and a return on equity of 16.24%. DISH Network’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Analysts predict that DISH Network will post 2.44 EPS for the current year.

In other news, Chairman Charles W. Ergen acquired 100,000 shares of DISH Network stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $30.94 per share, with a total value of $3,094,000.00. Following the completion of the transaction, the chairman now directly owns 1,656,075 shares of the company’s stock, valued at $51,238,960.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Defranco acquired 300,000 shares of DISH Network stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $31.18 per share, with a total value of $9,354,000.00. Following the completion of the transaction, the insider now directly owns 1,528,529 shares of the company’s stock, valued at $47,659,534.22. The disclosure for this purchase can be found here. Insiders have bought 700,005 shares of company stock valued at $21,958,159 over the last ninety days. 52.80% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Doyle Wealth Management bought a new stake in DISH Network in the second quarter valued at approximately $25,000. Global Retirement Partners LLC raised its stake in DISH Network by 38.5% in the first quarter. Global Retirement Partners LLC now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 292 shares during the period. Bessemer Group Inc. raised its stake in DISH Network by 50.3% in the second quarter. Bessemer Group Inc. now owns 1,279 shares of the company’s stock valued at $49,000 after buying an additional 428 shares during the period. Trust Co. of Vermont raised its stake in DISH Network by 4,000.0% in the second quarter. Trust Co. of Vermont now owns 2,460 shares of the company’s stock valued at $85,000 after buying an additional 2,400 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in DISH Network in the second quarter valued at approximately $93,000. Hedge funds and other institutional investors own 48.09% of the company’s stock.

DISH has been the subject of several recent research reports. Moffett Nathanson cut DISH Network from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Thursday, July 25th. Raymond James raised DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research report on Monday, August 26th. Pivotal Research reissued a “hold” rating and set a $33.00 price target (down from $37.00) on shares of DISH Network in a research report on Monday, May 20th. BidaskClub raised DISH Network from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, ValuEngine cut DISH Network from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. DISH Network currently has a consensus rating of “Hold” and a consensus price target of $36.46.

DISH Network Company 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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