Renaissance Technologies LLC reduced its stake in DISH Network Corp (NASDAQ:DISH) by 91.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 101,879 shares of the company’s stock after selling 1,060,800 shares during the quarter. Renaissance Technologies LLC’s holdings in DISH Network were worth $3,424,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Signet Financial Management LLC lifted its holdings in DISH Network by 188,000.0% during the 2nd quarter. Signet Financial Management LLC now owns 3,762 shares of the company’s stock worth $126,000 after buying an additional 3,760 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in DISH Network during the 1st quarter worth approximately $219,000. Insight 2811 Inc. acquired a new stake in DISH Network during the 2nd quarter worth approximately $233,000. Riverhead Capital Management LLC lifted its holdings in DISH Network by 30.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,472 shares of the company’s stock worth $285,000 after buying an additional 1,966 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in DISH Network by 47.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 10,165 shares of the company’s stock worth $342,000 after buying an additional 3,285 shares in the last quarter. Hedge funds and other institutional investors own 48.29% of the company’s stock.
In other news, insider James Defranco acquired 5,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were bought at an average cost of $34.99 per share, with a total value of $174,950.00. Following the transaction, the insider now owns 1,198,529 shares in the company, valued at approximately $41,936,529.71. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders acquired 65,000 shares of company stock worth $2,133,450. Insiders own 49.20% of the company’s stock.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Friday, August 3rd. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. DISH Network had a net margin of 17.80% and a return on equity of 20.60%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm posted $0.09 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, research analysts forecast that DISH Network Corp will post 2.81 earnings per share for the current year.
A number of research firms have issued reports on DISH. Pivotal Research reiterated a “buy” rating and set a $40.00 target price on shares of DISH Network in a report on Monday, August 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $50.00 target price on shares of DISH Network in a report on Monday, August 6th. BidaskClub upgraded shares of DISH Network from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of DISH Network from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, July 10th. Finally, Cowen reiterated a “buy” rating and set a $60.00 target price on shares of DISH Network in a report on Monday, August 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. DISH Network has a consensus rating of “Hold” and a consensus price target of $43.42.
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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