Skandinaviska Enskilda Banken AB publ reduced its position in shares of DISH Network Co. (NASDAQ:DISH – Get Rating) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,443 shares of the company’s stock after selling 1,628 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in DISH Network were worth $638,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new stake in DISH Network in the third quarter worth about $3,901,000. Treasurer of the State of North Carolina lifted its holdings in DISH Network by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 107,375 shares of the company’s stock worth $1,485,000 after buying an additional 1,390 shares during the period. Exchange Traded Concepts LLC purchased a new stake in DISH Network in the fourth quarter worth about $77,000. DekaBank Deutsche Girozentrale lifted its holdings in DISH Network by 12.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,416 shares of the company’s stock worth $387,000 after buying an additional 3,005 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in DISH Network in the third quarter worth about $37,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director James Defranco bought 150,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was acquired at an average price of $11.46 per share, with a total value of $1,719,000.00. Following the transaction, the director now owns 3,767,658 shares in the company, valued at approximately $43,177,360.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 2,100,000 shares of company stock valued at $22,877,000. Company insiders own 55.50% of the company’s stock.
DISH Network Price Performance
DISH Network (NASDAQ:DISH – Get Rating) last posted its earnings results on Monday, May 8th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). DISH Network had a return on equity of 13.66% and a net margin of 13.81%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm posted $0.68 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that DISH Network Co. will post 1.18 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have commented on DISH shares. Royal Bank of Canada lowered their price objective on shares of DISH Network from $20.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, February 27th. Credit Suisse Group reiterated an “outperform” rating and set a $35.00 target price on shares of DISH Network in a report on Friday, February 24th. Bank of America lowered shares of DISH Network from a “buy” rating to an “underperform” rating and lowered their target price for the company from $30.00 to $10.00 in a report on Tuesday, February 28th. Morgan Stanley lowered their target price on shares of DISH Network from $17.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, April 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of DISH Network from $18.00 to $16.00 in a report on Tuesday, May 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.86.
About DISH Network
DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through the Pay-TV and Wireless segments. The Pay-TV segment operates under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles William Ergen, Cantey M.
Further Reading
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