Denali Advisors LLC bought a new stake in DISH Network Corp (NASDAQ:DISH) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,200 shares of the company’s stock, valued at approximately $687,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DISH. A.R.T. Advisors LLC raised its stake in DISH Network by 345.2% during the first quarter. A.R.T. Advisors LLC now owns 126,000 shares of the company’s stock valued at $4,774,000 after buying an additional 97,700 shares during the last quarter. Natixis purchased a new position in DISH Network during the first quarter valued at $2,030,000. LPL Financial LLC raised its stake in DISH Network by 19.5% during the first quarter. LPL Financial LLC now owns 45,865 shares of the company’s stock valued at $1,738,000 after buying an additional 7,495 shares during the last quarter. Guggenheim Capital LLC raised its stake in DISH Network by 20.9% during the first quarter. Guggenheim Capital LLC now owns 879,058 shares of the company’s stock valued at $33,307,000 after buying an additional 151,738 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its stake in DISH Network by 2,135.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,521 shares of the company’s stock valued at $209,000 after buying an additional 5,274 shares during the last quarter. Institutional investors own 48.26% of the company’s stock.
In other DISH Network news, insider James Defranco purchased 10,000 shares of the firm’s stock in a transaction dated Monday, October 8th. The stock was purchased at an average price of $34.54 per share, for a total transaction of $345,400.00. Following the completion of the purchase, the insider now directly owns 1,208,529 shares of the company’s stock, valued at $41,742,591.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought 60,000 shares of company stock valued at $1,958,500 in the last 90 days. Company insiders own 49.20% of the company’s stock.
DISH Network (NASDAQ:DISH) last posted its quarterly earnings results on Friday, August 3rd. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. As a group, research analysts anticipate that DISH Network Corp will post 2.77 EPS for the current fiscal year.
A number of research analysts have issued reports on DISH shares. Morgan Stanley lifted their price objective on DISH Network from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday, September 7th. BidaskClub cut DISH Network from a “sell” rating to a “strong sell” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Monday, September 17th. Credit Suisse Group started coverage on DISH Network in a research note on Tuesday, July 10th. They set an “underperform” rating and a $30.00 price objective for the company. Finally, Goldman Sachs Group reiterated a “neutral” rating on shares of DISH Network in a research note on Thursday, June 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $44.08.
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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