D. E. Shaw & Co. Inc. lifted its position in shares of DISH Network Corp (NASDAQ:DISH) by 88.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 952,723 shares of the company’s stock after buying an additional 446,873 shares during the period. D. E. Shaw & Co. Inc.’s holdings in DISH Network were worth $36,594,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in DISH. Dimensional Fund Advisors LP boosted its stake in shares of DISH Network by 146.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,701,900 shares of the company’s stock worth $42,499,000 after acquiring an additional 1,010,741 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of DISH Network by 78.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,676,400 shares of the company’s stock worth $64,391,000 after acquiring an additional 734,500 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of DISH Network by 40.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 957,800 shares of the company’s stock worth $36,789,000 after acquiring an additional 276,107 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of DISH Network by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 3,272,394 shares of the company’s stock worth $81,583,000 after acquiring an additional 262,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in DISH Network by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 23,719,762 shares of the company’s stock valued at $911,075,000 after buying an additional 254,456 shares in the last quarter. 48.04% of the stock is currently owned by institutional investors and hedge funds.
In other DISH Network news, insider James Defranco purchased 300,000 shares of DISH Network stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $31.18 per share, with a total value of $9,354,000.00. Following the purchase, the insider now directly owns 1,528,529 shares in the company, valued at approximately $47,659,534.22. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles W. Ergen purchased 300,005 shares of DISH Network stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $31.70 per share, for a total transaction of $9,510,158.50. Following the purchase, the chairman now owns 1,656,075 shares in the company, valued at $52,497,577.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 700,005 shares of company stock worth $21,958,159. Corporate insiders own 52.80% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine lowered DISH Network from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Barclays lowered DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 target price on the stock. in a research note on Monday, July 29th. Moffett Nathanson lowered DISH Network from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 25th. BidaskClub raised DISH Network from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Raymond James raised DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.46.
DISH stock traded down $0.90 on Friday, reaching $34.54. The company had a trading volume of 2,354,424 shares, compared to its average volume of 2,616,126. DISH Network Corp has a 1 year low of $23.22 and a 1 year high of $44.65. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63. The company’s fifty day moving average is $33.34 and its 200 day moving average is $35.20. The company has a market cap of $16.66 billion, a P/E ratio of 11.51 and a beta of 1.39.
DISH Network (NASDAQ:DISH) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.05). DISH Network had a return on equity of 16.24% and a net margin of 10.88%. The business had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $0.83 EPS. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts predict that DISH Network Corp will post 2.44 earnings per share for the current year.
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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