Lansdowne Partners UK LLP lifted its position in shares of DISH Network Corp (NASDAQ:DISH) by 54.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,610 shares of the company’s stock after acquiring an additional 9,039 shares during the quarter. Lansdowne Partners UK LLP’s holdings in DISH Network were worth $861,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Exane Derivatives increased its holdings in DISH Network by 112.8% in the second quarter. Exane Derivatives now owns 20,273 shares of the company’s stock valued at $681,000 after purchasing an additional 10,748 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in DISH Network by 1.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,250,000 shares of the company’s stock valued at $42,013,000 after purchasing an additional 20,000 shares during the last quarter. Verition Fund Management LLC increased its holdings in DISH Network by 10.1% in the first quarter. Verition Fund Management LLC now owns 48,813 shares of the company’s stock valued at $1,850,000 after purchasing an additional 4,458 shares during the last quarter. Trexquant Investment LP grew its stake in DISH Network by 140.2% in the second quarter. Trexquant Investment LP now owns 131,950 shares of the company’s stock valued at $4,435,000 after acquiring an additional 77,026 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in DISH Network by 3.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,407,967 shares of the company’s stock valued at $114,542,000 after acquiring an additional 112,586 shares during the period. Institutional investors own 48.27% of the company’s stock.
A number of research firms have issued reports on DISH. BidaskClub raised DISH Network from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised DISH Network from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, August 29th. Moffett Nathanson cut DISH Network from a “neutral” rating to a “sell” rating and set a $29.00 target price for the company. in a research note on Monday, August 13th. Credit Suisse Group began coverage on DISH Network in a research note on Tuesday, July 10th. They issued an “underperform” rating and a $30.00 target price for the company. Finally, Goldman Sachs Group cut DISH Network from a “buy” rating to a “neutral” rating and decreased their target price for the company from $63.00 to $39.00 in a research note on Thursday, June 21st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $50.71.
NASDAQ:DISH opened at $34.55 on Thursday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.66 and a current ratio of 0.76. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 13.60 and a beta of 1.20. DISH Network Corp has a 12-month low of $28.80 and a 12-month high of $57.95.
DISH Network (NASDAQ:DISH) last released its quarterly earnings data on Friday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.44 billion. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. equities research analysts predict that DISH Network Corp will post 2.77 EPS for the current fiscal year.
In other news, insider James Defranco bought 10,000 shares of the stock in a transaction dated Monday, July 30th. The shares were bought at an average price of $30.35 per share, for a total transaction of $303,500.00. Following the completion of the purchase, the insider now owns 1,193,529 shares in the company, valued at $36,223,605.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have bought 55,000 shares of company stock worth $1,743,550. 49.20% of the stock is owned by corporate insiders.
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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