Investors Buy Shares of DISH Network Corporation (DISH) on Weakness

Traders purchased shares of DISH Network Corporation (NASDAQ:DISH) on weakness during trading hours on Wednesday. $46.31 million flowed into the stock on the tick-up and $10.33 million flowed out of the stock on the tick-down, for a money net flow of $35.98 million into the stock. Of all equities tracked, DISH Network Corporation had the 19th highest net in-flow for the day. DISH Network Corporation traded down ($0.05) for the day and closed at $51.65

A number of analysts have recently issued reports on the company. BidaskClub raised DISH Network Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Citigroup Inc. cut DISH Network Corporation from a “buy” rating to a “sell” rating and cut their price objective for the company from $94.00 to $52.00 in a research report on Wednesday, July 26th. Macquarie reaffirmed a “hold” rating and issued a $68.00 price objective on shares of DISH Network Corporation in a research report on Thursday, August 3rd. Wells Fargo & Company reaffirmed an “outperform” rating on shares of DISH Network Corporation in a research report on Wednesday, June 28th. Finally, Telsey Advisory Group cut their price objective on DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating for the company in a research report on Friday, August 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.18.

The firm’s 50-day moving average is $54.34 and its 200 day moving average is $60.61. The company has a market capitalization of $22.85 billion, a PE ratio of 22.80 and a beta of 0.99.

DISH Network Corporation (NASDAQ:DISH) last posted its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.67). The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.71 billion. DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Equities analysts anticipate that DISH Network Corporation will post $2.13 earnings per share for the current fiscal year.

In other DISH Network Corporation news, CEO Roger Lynch sold 25,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $59.73, for a total transaction of $1,493,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey L. Mcschooler sold 785 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.61, for a total value of $44,438.85. Following the sale, the executive vice president now owns 165 shares in the company, valued at approximately $9,340.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,110 shares of company stock worth $1,555,296. Company insiders own 49.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Sun Life Financial INC lifted its position in shares of DISH Network Corporation by 20,725.0% during the second quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock worth $105,000 after acquiring an additional 1,658 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of DISH Network Corporation by 32.2% during the second quarter. IHT Wealth Management LLC now owns 1,750 shares of the company’s stock worth $1,593,000 after acquiring an additional 426 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its position in shares of DISH Network Corporation by 4.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 2,500 shares of the company’s stock worth $157,000 after acquiring an additional 100 shares in the last quarter. Invictus RG purchased a new stake in shares of DISH Network Corporation during the first quarter worth $160,000. Finally, Huntington National Bank lifted its position in shares of DISH Network Corporation by 12.1% during the second quarter. Huntington National Bank now owns 2,600 shares of the company’s stock worth $163,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 48.93% of the company’s stock.

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DISH Network Corporation Company Profile

DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, 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 and Fixed Satellite Service 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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