Artemis Investment Management LLP acquired a new position in Dish Network Corp. (NASDAQ:DISH) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 160,046 shares of the company’s stock, valued at approximately $8,387,000.
Several other large investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new stake in shares of Dish Network Corp. during the first quarter worth $288,000. Landscape Capital Management L.L.C. bought a new stake in shares of Dish Network Corp. during the first quarter worth $456,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Dish Network Corp. during the first quarter worth $1,788,000. BlackRock Inc. boosted its stake in shares of Dish Network Corp. by 4.0% in the first quarter. BlackRock Inc. now owns 237,226 shares of the company’s stock worth $10,975,000 after buying an additional 9,091 shares during the period. Finally, Institutional Capital LLC bought a new stake in shares of Dish Network Corp. during the first quarter worth $120,147,000. Hedge funds and other institutional investors own 45.34% of the company’s stock.
Dish Network Corp. (NASDAQ:DISH) traded up 1.07% during trading on Wednesday, hitting $54.93. The stock had a trading volume of 2,115,664 shares. The firm has a market cap of $25.53 billion, a P/E ratio of 29.34 and a beta of 0.79. Dish Network Corp. has a 12-month low of $38.85 and a 12-month high of $65.49. The stock’s 50 day moving average price is $51.34 and its 200 day moving average price is $50.06.
Dish Network Corp. (NASDAQ:DISH) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.17. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Dish Network Corp. had a return on equity of 42.01% and a net margin of 5.75%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, analysts anticipate that Dish Network Corp. will post $3.08 EPS for the current fiscal year.
A number of equities research analysts have commented on the company. Wells Fargo & Co. reiterated a “buy” rating and issued a $119.00 price target on shares of Dish Network Corp. in a research note on Friday, June 3rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Dish Network Corp. in a research note on Saturday, June 4th. Zacks Investment Research cut Dish Network Corp. from a “strong-buy” rating to a “hold” rating in a research note on Monday. Jefferies Group reiterated a “buy” rating and issued a $50.73 price target (down from $80.00) on shares of Dish Network Corp. in a research note on Friday, June 3rd. Finally, Pacific Crest reiterated a “hold” rating on shares of Dish Network Corp. in a research note on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $66.24.
In related news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $53.54, for a total value of $1,606,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 49.40% of the stock is owned by corporate insiders.
About Dish Network Corp.
DISH Network Corporation is a holding company. The Company operates through two segments: DISH 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 (DBS) and Fixed Satellite Service (FSS) 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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