Retirement Systems of Alabama maintained its stake in shares of Dish Network Corp. (NASDAQ:DISH) during the second quarter, Holdings Channel reports. The firm owned 301,100 shares of the company’s stock at the end of the second quarter. Retirement Systems of Alabama’s holdings in Dish Network Corp. were worth $15,778,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of DISH. Dodge & Cox boosted its stake in shares of Dish Network Corp. by 23.7% in the first quarter. Dodge & Cox now owns 14,120,430 shares of the company’s stock worth $653,211,000 after buying an additional 2,707,650 shares during the last quarter. State Street Corp boosted its stake in shares of Dish Network Corp. by 4.0% in the first quarter. State Street Corp now owns 4,187,213 shares of the company’s stock worth $193,705,000 after buying an additional 162,714 shares during the last quarter. Institutional Capital LLC purchased a new stake in shares of Dish Network Corp. during the first quarter worth approximately $120,147,000. Renaissance Technologies LLC boosted its stake in shares of Dish Network Corp. by 37.3% in the first quarter. Renaissance Technologies LLC now owns 2,168,779 shares of the company’s stock worth $100,328,000 after buying an additional 588,872 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Dish Network Corp. by 6.1% in the first quarter. Geode Capital Management LLC now owns 1,393,587 shares of the company’s stock worth $64,432,000 after buying an additional 79,905 shares during the last quarter. 45.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Dish Network Corp. (NASDAQ:DISH) traded down 0.47% during trading on Friday, hitting $54.78. The stock had a trading volume of 2,249,484 shares. The stock’s 50-day moving average price is $51.57 and its 200-day moving average price is $50.13. Dish Network Corp. has a one year low of $38.85 and a one year high of $65.49. The company has a market cap of $25.46 billion, a P/E ratio of 29.26 and a beta of 0.79.
Dish Network Corp. (NASDAQ:DISH) last released its earnings results on Thursday, July 21st. The company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.17. Dish Network Corp. had a return on equity of 42.01% and a net margin of 5.75%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Dish Network Corp. will post $3.08 EPS for the current fiscal year.
A number of equities research analysts have recently commented on DISH shares. Macquarie raised shares of Dish Network Corp. from a “neutral” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Tuesday, August 9th. Jefferies Group reissued a “buy” rating and issued a $50.73 price target (down previously from $80.00) on shares of Dish Network Corp. in a research note on Friday, June 3rd. Pacific Crest reissued a “hold” rating on shares of Dish Network Corp. in a research note on Friday, July 22nd. Zacks Investment Research raised shares of Dish Network Corp. from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Dish Network Corp. in a research note on Saturday, June 4th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $66.24.
In related news, insider Carl E. Vogel sold 30,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $53.54, for a total transaction of $1,606,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 49.40% of the company’s stock.
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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