DISH Network (DISH) Sets New 52-Week Low Following Insider Selling

DISH Network Corp (NASDAQ:DISH) hit a new 52-week low on Thursday following insider selling activity. The company traded as low as $38.14 and last traded at $38.16, with a volume of 1034858 shares changing hands. The stock had previously closed at $39.06.

Specifically, EVP Vivek Khemka sold 6,000 shares of DISH Network stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $39.03, for a total value of $234,180.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 49.30% of the company’s stock.

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DISH has been the subject of a number of recent research reports. Zacks Investment Research cut shares of DISH Network from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Citigroup raised shares of DISH Network from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. SunTrust Banks dropped their price objective on shares of DISH Network to $44.00 and set a “hold” rating for the company in a research note on Thursday, March 1st. Pivotal Research reissued a “buy” rating and issued a $65.00 price objective (down from $67.00) on shares of DISH Network in a research note on Thursday, February 22nd. Finally, Morgan Stanley cut shares of DISH Network from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $75.00 to $55.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.25.

The company has a debt-to-equity ratio of 2.18, a current ratio of 0.68 and a quick ratio of 0.61. The stock has a market capitalization of $18,220.51, a P/E ratio of 9.03, a P/E/G ratio of -7.93 and a beta of 1.11.

DISH Network (NASDAQ:DISH) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. DISH Network had a net margin of 14.59% and a return on equity of 22.56%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. sell-side analysts anticipate that DISH Network Corp will post 2.46 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in DISH Network by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 2,319,059 shares of the company’s stock valued at $110,494,000 after buying an additional 84,497 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in DISH Network by 129.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,188,079 shares of the company’s stock valued at $56,731,000 after buying an additional 669,900 shares in the last quarter. Legal & General Group Plc lifted its holdings in DISH Network by 6.7% during the 3rd quarter. Legal & General Group Plc now owns 1,118,161 shares of the company’s stock valued at $60,634,000 after buying an additional 70,398 shares in the last quarter. Sirios Capital Management L P lifted its holdings in DISH Network by 18.6% during the 4th quarter. Sirios Capital Management L P now owns 934,589 shares of the company’s stock valued at $44,627,000 after buying an additional 146,881 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in DISH Network by 4.6% during the 4th quarter. OppenheimerFunds Inc. now owns 867,788 shares of the company’s stock valued at $41,437,000 after buying an additional 38,073 shares in the last quarter. Institutional investors own 48.15% of the company’s stock.

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About DISH Network

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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