DISH Network (DISH) Bonds Drop 1.9% During Trading Insider Trade

An issue of DISH Network Corp (NASDAQ:DISH) bonds fell 1.9% against their face value during trading on Thursday following insider selling activity. The high-yield issue of debt has a 7.75% coupon and is set to mature on July 1, 2026. The debt is now trading at $92.44 and was trading at $96.13 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its stock price. Specifically, EVP Vivek Khemka sold 6,000 shares of the business’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $39.03, for a total value of $234,180.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 49.30% of the company’s stock.

A number of research firms have recently issued reports on DISH. Moffett Nathanson raised shares of DISH Network from a “sell” rating to a “neutral” rating and set a $37.00 price target on the stock in a research note on Friday. They noted that the move was a valuation call. Pivotal Research reissued a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of DISH Network in a research note on Thursday, February 22nd. SunTrust Banks reduced their price target on shares of DISH Network to $44.00 and set a “hold” rating on the stock in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of DISH Network from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley downgraded shares of DISH Network from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $75.00 to $55.00 in a research note on Wednesday, January 17th. Two equities 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 company. DISH Network presently has a consensus rating of “Hold” and a consensus target price of $62.25.

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The company has a market cap of $17,618.76, a P/E ratio of 9.03, a price-to-earnings-growth ratio of -7.67 and a beta of 1.11. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.68 and a quick ratio of 0.61.

DISH Network (NASDAQ:DISH) last announced its earnings results on Wednesday, February 21st. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. equities analysts expect 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 increased its stake 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 worth $110,494,000 after buying an additional 84,497 shares during the period. Renaissance Technologies LLC increased its stake in DISH Network by 129.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,188,079 shares of the company’s stock worth $56,731,000 after buying an additional 669,900 shares during the period. Legal & General Group Plc increased its stake 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 worth $60,634,000 after buying an additional 70,398 shares during the period. Sirios Capital Management L P increased its position in shares of DISH Network by 18.6% in the 4th quarter. Sirios Capital Management L P now owns 934,589 shares of the company’s stock valued at $44,627,000 after purchasing an additional 146,881 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of DISH Network by 4.6% in the 4th quarter. OppenheimerFunds Inc. now owns 867,788 shares of the company’s stock valued at $41,437,000 after purchasing an additional 38,073 shares during the last quarter. 48.15% of the stock is currently owned by hedge funds and other institutional investors.

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DISH Network 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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