DISH Network Co. (NASDAQ:DISH) Holdings Lowered by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. thanks its stake in shares of DISH Network Co. (NASDAQ:DISH – Get Rating) by 0.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 702,354 shares of the company’s stock after selling 3,620 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in DISH Network were worth $12,593,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of DISH. Covetor Ltd lifted its holdings in shares of DISH Network by 268.9% during the first quarter. Covetor Ltd now owns 889 shares of the company’s stock valued at $28,000 after purchasing an additional 648 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of DISH Network during the first quarter valued at $30,000. Trust Co. of Vermont purchased a new stake in shares of DISH Network during the second quarter valued at $43,000. CVA Family Office LLC purchased a new stake in shares of DISH Network during the second quarter valued at $54,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of DISH Network during the first quarter valued at $61,000. 97.72% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director James Defranco acquired 163,637 shares of the stock in a transaction dated Thursday, August 18th. The shares were acquired at an average price of $18.11 per share, with a total value of $2,963,466.07. Following the acquisition, the director now owns 713,937 shares in the company, valued at approximately $12,929,399.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have purchased 453,585 shares of company stock valued at $8,040,360. Insiders own 53.30% of the company’s stock.
Analyst Upgrades and Downgrades
Several equity research analysts have recently commented on the company. Morgan Stanley reduced their target price on DISH Network from $29.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft dropped their price target on DISH Network from $61.00 to $55.00 in a research report on Thursday, August 4th. StockNews.com initiated coverage on DISH Network in a research report on Wednesday. They set a “sell” rating on the stock. Raymond James dropped their price target on DISH Network from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 4th. Finally, Pivotal Research dropped their price target on DISH Network from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.21.
DISH Network Stock Performance
Shares of DISH stock opened at $12.96 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.64 and a quick ratio of 0.56. DISH Network Co. has a fifty-two week low of $12.55 and a fifty-two week high of $44.97. The stock’s 50-day moving average is $16.75 and its two-hundred day moving average is $20.61. The firm has a market cap of $6.87 billion, a P/E ratio of 3.99 and a beta of 1.82.
DISH Network (NASDAQ:DISH – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.27 billion. DISH Network had a return on equity of 13.11% and a net margin of 11.84%. Analysts predict that DISH Network Co. will post 2.56 earnings per share for the current fiscal year.
DISH Network Profile
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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.
Further Reading
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