Vident Investment Advisory LLC bought a new stake in shares of DISH Network Corp (NASDAQ:DISH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,588 shares of the company’s stock, valued at approximately $506,000.
A number of other large investors have also made changes to their positions in the stock. Verition Fund Management LLC acquired a new position in DISH Network during the 4th quarter valued at about $2,118,000. Zeke Capital Advisors LLC acquired a new position in shares of DISH Network in the fourth quarter valued at about $677,000. Sciencast Management LP acquired a new position in shares of DISH Network in the fourth quarter valued at about $1,215,000. Meadow Creek Investment Management LLC increased its holdings in shares of DISH Network by 12.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 13,748 shares of the company’s stock valued at $657,000 after purchasing an additional 1,512 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of DISH Network by 18.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 76,905 shares of the company’s stock valued at $3,672,000 after purchasing an additional 12,251 shares during the period. 48.16% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Morgan Stanley lowered DISH Network from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $75.00 to $55.00 in a report on Wednesday, January 17th. Moffett Nathanson raised DISH Network from a “sell” rating to a “neutral” rating and set a $37.00 price objective on the stock in a report on Friday. They noted that the move was a valuation call. Citigroup raised DISH Network from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. Zacks Investment Research raised DISH Network from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Thursday, February 22nd. Finally, SunTrust Banks cut their price objective on DISH Network to $44.00 and set a “hold” rating on the stock in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $62.25.
DISH Network (NASDAQ:DISH) last issued its 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 return on equity of 22.56% and a net margin of 14.59%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was down 7.2% compared to the same quarter last year. research analysts expect that DISH Network Corp will post 2.46 EPS for the current fiscal year.
In other news, EVP Vivek Khemka sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $39.03, for a total value of $234,180.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 49.30% of the stock is owned by corporate insiders.
DISH Network 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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