PNC Financial Services Group Inc. lessened its position in shares of DISH Network Corp (NASDAQ:DISH) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 319,877 shares of the company’s stock after selling 4,792 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.07% of DISH Network worth $10,750,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd raised its stake in DISH Network by 2,135.2% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 5,521 shares of the company’s stock valued at $209,000 after purchasing an additional 5,274 shares during the last quarter. WINTON GROUP Ltd acquired a new position in DISH Network in the 1st quarter valued at about $219,000. Insight 2811 Inc. acquired a new position in DISH Network in the 2nd quarter valued at about $233,000. Intact Investment Management Inc. acquired a new position in DISH Network in the 1st quarter valued at about $292,000. Finally, Fisher Asset Management LLC acquired a new position in DISH Network in the 1st quarter valued at about $311,000. 48.27% of the stock is owned by hedge funds and other institutional investors.
DISH opened at $34.55 on Thursday. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.76 and a quick ratio of 0.66. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 13.97 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 posted its quarterly earnings results on Friday, August 3rd. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. sell-side analysts forecast that DISH Network Corp will post 2.77 EPS for the current fiscal year.
Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of DISH Network from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of DISH Network from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Moffett Nathanson downgraded shares of 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. Pivotal Research reissued a “buy” rating and issued a $40.00 target price on shares of DISH Network in a research note on Monday, August 6th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $50.00 target price on shares of DISH Network in a research note on Monday, August 6th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.71.
In other DISH Network news, EVP James Defranco purchased 5,000 shares of the stock in a transaction on Thursday, June 28th. The stock was bought at an average price of $32.99 per share, for a total transaction of $164,950.00. Following the acquisition, the executive vice president now directly owns 1,153,529 shares of the company’s stock, valued at $38,054,921.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 55,000 shares of company stock valued at $1,743,550 in the last 90 days. 49.20% of the stock is owned by company insiders.
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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