Strs Ohio grew its position in shares of DISH Network Corp (NASDAQ:DISH) by 28.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,674 shares of the company’s stock after buying an additional 6,204 shares during the quarter. Strs Ohio’s holdings in DISH Network were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Municipal Employees Retirement System of Michigan acquired a new position in DISH Network during the 4th quarter worth approximately $147,000. Dimensional Fund Advisors LP grew its holdings in shares of DISH Network by 146.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,701,900 shares of the company’s stock worth $42,499,000 after acquiring an additional 1,010,741 shares during the period. Norges Bank acquired a new stake in shares of DISH Network in the 4th quarter worth approximately $19,316,000. Geode Capital Management LLC grew its holdings in shares of DISH Network by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 3,272,394 shares of the company’s stock worth $81,583,000 after acquiring an additional 262,700 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of DISH Network by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 47,268 shares of the company’s stock worth $1,497,000 after acquiring an additional 1,122 shares during the period. 48.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on DISH shares. BidaskClub cut DISH Network from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. ValuEngine cut DISH Network from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Pivotal Research restated a “hold” rating and issued a $33.00 price target (down previously from $37.00) on shares of DISH Network in a report on Monday, May 20th. Credit Suisse Group upgraded DISH Network from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $26.00 to $34.00 in a report on Monday, May 6th. Finally, Barclays cut DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Monday, July 29th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. DISH Network has a consensus rating of “Hold” and a consensus target price of $35.83.
DISH Network (NASDAQ:DISH) last announced its earnings results on Monday, July 29th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.05). The company had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. DISH Network had a net margin of 10.88% and a return on equity of 16.24%. DISH Network’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. As a group, equities analysts anticipate that DISH Network Corp will post 2.45 EPS for the current year.
In related news, Chairman Charles W. Ergen bought 300,005 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $31.70 per share, for a total transaction of $9,510,158.50. Following the acquisition, the chairman now owns 1,656,075 shares in the company, valued at $52,497,577.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tom A. Ortolf bought 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The shares were bought at an average price of $34.87 per share, for a total transaction of $348,700.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $348,700. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 410,005 shares of company stock worth $12,952,859. 52.80% of the stock is owned by insiders.
About DISH Network
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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