Tokio Marine Asset Management Co. Ltd. cut its position in Dish Network Corp. (NASDAQ:DISH) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,403 shares of the company’s stock after selling 423 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Dish Network Corp. were worth $440,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Invictus RG bought a new stake in shares of Dish Network Corp. during the first quarter worth about $161,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Dish Network Corp. during the first quarter worth about $206,000. Franklin Resources Inc. increased its stake in shares of Dish Network Corp. by 28.6% in the first quarter. Franklin Resources Inc. now owns 4,500 shares of the company’s stock worth $208,000 after buying an additional 1,000 shares during the period. Hartford Investment Management Co. bought a new stake in shares of Dish Network Corp. during the second quarter worth about $213,000. Finally, LS Investment Advisors LLC increased its stake in shares of Dish Network Corp. by 23.7% in the second quarter. LS Investment Advisors LLC now owns 4,886 shares of the company’s stock worth $256,000 after buying an additional 935 shares during the period. 45.34% of the stock is owned by institutional investors and hedge funds.
Shares of Dish Network Corp. (NASDAQ:DISH) traded up 0.99% during midday trading on Monday, hitting $56.00. The stock had a trading volume of 965,909 shares. The stock has a 50 day moving average of $52.15 and a 200-day moving average of $50.38. 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 $26.03 billion, a P/E ratio of 29.91 and a beta of 0.84.
Dish Network Corp. (NASDAQ:DISH) last released its earnings results on Thursday, July 21st. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.17. The firm earned $3.84 billion during the quarter, compared to analyst estimates of $3.86 billion. Dish Network Corp. had a return on equity of 42.01% and a net margin of 5.75%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. Analysts forecast that Dish Network Corp. will post $3.08 EPS for the current fiscal year.
A number of brokerages have issued reports on DISH. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $56.00 target price (up from $50.00) on shares of Dish Network Corp. in a research note on Sunday, July 24th. Zacks Investment Research downgraded Dish Network Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Moffett Nathanson downgraded Dish Network Corp. from a “neutral” rating to a “sell” rating and set a $40.00 target price for the company. in a research note on Tuesday, June 28th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Dish Network Corp. in a research note on Friday, August 26th. Finally, Wunderlich cut Dish Network Corp. from a “hold” rating to a “sell” rating and set a $48.00 price target for the company. in a report 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.46.
In other Dish Network Corp. news, insider Carl E. Vogel sold 30,000 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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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