Profund Advisors LLC Takes $395,000 Position in DISH Network Corp (NASDAQ:DISH)

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Profund Advisors LLC purchased a new stake in shares of DISH Network Corp (NASDAQ:DISH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,277 shares of the company’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in DISH Network by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 3,272,394 shares of the company’s stock worth $81,583,000 after acquiring an additional 262,700 shares during the period. Key Square Capital Management LLC grew its holdings in DISH Network by 0.9% during the first quarter. Key Square Capital Management LLC now owns 3,011,419 shares of the company’s stock worth $95,432,000 after acquiring an additional 27,623 shares during the period. Northern Trust Corp grew its holdings in DISH Network by 2.1% during the second quarter. Northern Trust Corp now owns 2,711,365 shares of the company’s stock worth $104,143,000 after acquiring an additional 56,219 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in DISH Network by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,907,542 shares of the company’s stock worth $73,269,000 after acquiring an additional 73,289 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in DISH Network by 146.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,701,900 shares of the company’s stock worth $42,499,000 after acquiring an additional 1,010,741 shares during the period. 48.04% of the stock is currently owned by institutional investors.

In other DISH Network news, insider James Defranco acquired 300,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $31.18 per share, for a total transaction of $9,354,000.00. Following the transaction, the insider now owns 1,528,529 shares of the company’s stock, valued at approximately $47,659,534.22. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles W. Ergen acquired 300,005 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $31.70 per share, with a total value of $9,510,158.50. Following the completion of the transaction, the chairman now directly owns 1,656,075 shares in the company, valued at approximately $52,497,577.50. The disclosure for this purchase can be found here. Insiders purchased a total of 700,005 shares of company stock valued at $21,958,159 in the last quarter. 52.80% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on DISH shares. ValuEngine lowered DISH Network from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Barclays lowered DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 target price on the stock. in a report on Monday, July 29th. Raymond James raised DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Monday, August 26th. BidaskClub raised DISH Network from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Moffett Nathanson lowered DISH Network from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Thursday, July 25th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. DISH Network has an average rating of “Hold” and a consensus target price of $36.46.

Shares of NASDAQ:DISH traded down $0.90 during midday trading on Friday, reaching $34.54. The company had a trading volume of 2,354,424 shares, compared to its average volume of 2,555,459. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63. DISH Network Corp has a 1-year low of $23.22 and a 1-year high of $44.65. The firm has a market cap of $16.72 billion, a price-to-earnings ratio of 11.51 and a beta of 1.39. The company has a fifty day simple moving average of $33.34 and a two-hundred day simple moving average of $35.20.

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

See Also: Diversification

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Institutional Ownership by Quarter for DISH Network (NASDAQ:DISH)

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