Westpac Banking Corp increased its position in Dish Network Corp. (NASDAQ:DISH) by 32.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,326 shares of the company’s stock after buying an additional 3,000 shares during the period. Westpac Banking Corp’s holdings in Dish Network Corp. were worth $646,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of DISH. Dodge & Cox raised its stake in 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. Institutional Capital LLC acquired a new stake in Dish Network Corp. during the first quarter worth $120,147,000. Scout Investments Inc. acquired a new stake in Dish Network Corp. during the second quarter worth $56,852,000. Smith Asset Management Group LP acquired a new stake in Dish Network Corp. during the second quarter worth $44,367,000. Finally, JPMorgan Chase & Co. raised its stake in Dish Network Corp. by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 22,728,671 shares of the company’s stock worth $1,190,983,000 after buying an additional 636,960 shares during the last quarter. 45.34% of the stock is owned by institutional investors and hedge funds.
Dish Network Corp. (NASDAQ:DISH) opened at 55.65 on Tuesday. The stock has a market capitalization of $25.87 billion, a P/E ratio of 29.73 and a beta of 0.84. The firm’s 50-day moving average is $51.70 and its 200-day moving average is $50.20. Dish Network Corp. has a 52 week low of $38.85 and a 52 week high of $65.49.
Dish Network Corp. (NASDAQ:DISH) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.17. Dish Network Corp. had a net margin of 5.75% and a return on equity of 42.01%. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same period in the prior year, the company posted $0.70 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Dish Network Corp. will post $3.08 EPS for the current fiscal year.
A number of research firms have recently weighed in on DISH. RBC Capital Markets reiterated a “sector perform” rating and issued a $56.00 price objective (up previously from $50.00) on shares of Dish Network Corp. in a research note on Sunday, July 24th. Zacks Investment Research lowered shares of Dish Network Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Moffett Nathanson lowered shares of Dish Network Corp. from a “neutral” rating to a “sell” rating and set a $40.00 price objective on the stock. in a research note on Tuesday, June 28th. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Dish Network Corp. in a research note on Friday, August 26th. Finally, Wunderlich lowered shares of Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 price objective on the stock. in a research note on Friday, July 22nd. Three equities research 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 stock. The stock has an average rating of “Hold” and an average price target of $66.24.
In other news, insider Carl E. Vogel sold 30,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $53.54, for a total transaction of $1,606,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 49.40% of the company’s stock.
Dish Network Corp. Company Profile
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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