Sciencast Management LP bought a new position in shares of DISH Network Corp (NASDAQ:DISH) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 26,255 shares of the company’s stock, valued at approximately $1,215,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of DISH. Pacer Advisors Inc. raised its stake in DISH Network by 13.7% in the 3rd quarter. Pacer Advisors Inc. now owns 8,611 shares of the company’s stock worth $467,000 after purchasing an additional 1,040 shares in the last quarter. Norinchukin Bank The increased its holdings in DISH Network by 7.4% in the 3rd quarter. Norinchukin Bank The now owns 16,947 shares of the company’s stock valued at $919,000 after buying an additional 1,161 shares during the period. Profund Advisors LLC increased its holdings in DISH Network by 7.0% in the 4th quarter. Profund Advisors LLC now owns 19,658 shares of the company’s stock valued at $939,000 after buying an additional 1,283 shares during the period. MUFG Americas Holdings Corp increased its holdings in DISH Network by 86.7% in the 4th quarter. MUFG Americas Holdings Corp now owns 2,800 shares of the company’s stock valued at $133,000 after buying an additional 1,300 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in DISH Network by 3.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,180 shares of the company’s stock valued at $2,110,000 after buying an additional 1,406 shares during the period. Institutional investors own 48.17% of the company’s stock.
Several research firms have commented on DISH. Royal Bank of Canada reissued a “sector perform” rating and issued a $54.00 target price (down from $56.00) on shares of DISH Network in a report on Wednesday, November 22nd. Zacks Investment Research lowered shares of DISH Network from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Morgan Stanley lowered shares of DISH Network from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $75.00 to $55.00 in a report on Wednesday, January 17th. Citigroup raised shares of DISH Network from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, Pivotal Research reissued a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of DISH Network in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. DISH Network presently has an average rating of “Hold” and an average target price of $62.25.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.52 billion. DISH Network had a net margin of 14.59% and a return on equity of 22.56%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. research analysts anticipate that DISH Network Corp will post 2.39 earnings per share for the current fiscal year.
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DISH Network Profile
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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