Korea Investment CORP cut its stake in DISH Network Corporation (NASDAQ:DISH) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,993 shares of the company’s stock after selling 35,600 shares during the quarter. Korea Investment CORP owned about 0.10% of DISH Network Corporation worth $24,566,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its position in DISH Network Corporation by 10.4% in the second quarter. State of Tennessee Treasury Department now owns 168,943 shares of the company’s stock valued at $10,603,000 after purchasing an additional 15,978 shares during the period. Swiss National Bank raised its position in DISH Network Corporation by 3.3% in the second quarter. Swiss National Bank now owns 829,109 shares of the company’s stock valued at $52,035,000 after purchasing an additional 26,200 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in DISH Network Corporation in the second quarter valued at about $304,000. Artemis Investment Management LLP raised its position in DISH Network Corporation by 29.8% in the second quarter. Artemis Investment Management LLP now owns 129,944 shares of the company’s stock valued at $8,156,000 after purchasing an additional 29,821 shares during the period. Finally, CenturyLink Investment Management Co purchased a new position in DISH Network Corporation in the second quarter valued at about $883,000. 48.94% of the stock is currently owned by institutional investors.
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DISH Network Corporation (NASDAQ:DISH) opened at 46.49 on Friday. The company has a 50-day moving average price of $51.84 and a 200-day moving average price of $59.49. The firm has a market capitalization of $21.67 billion, a P/E ratio of 21.62 and a beta of 0.99. DISH Network Corporation has a 1-year low of $46.41 and a 1-year high of $66.50.
DISH Network Corporation (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.67). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. On average, equities research analysts predict that DISH Network Corporation will post $2.18 earnings per share for the current fiscal year.
DISH has been the topic of several research reports. Wells Fargo & Company reissued an “outperform” rating and issued a $88.50 price objective on shares of DISH Network Corporation in a research report on Thursday, August 31st. Morgan Stanley reissued a “buy” rating and issued a $75.00 price objective on shares of DISH Network Corporation in a research report on Tuesday, October 17th. Citigroup Inc. lowered DISH Network Corporation from a “buy” rating to a “sell” rating and cut their price objective for the company from $94.00 to $52.00 in a research report on Wednesday, July 26th. BidaskClub lowered DISH Network Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and set a $99.00 target price on shares of DISH Network Corporation in a research note on Thursday, October 5th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.38.
In other news, EVP Jeffrey L. Mcschooler sold 785 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $56.61, for a total transaction of $44,438.85. Following the completion of the transaction, the executive vice president now owns 165 shares of the company’s stock, valued at $9,340.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $59.73, for a total transaction of $1,493,250.00. The disclosure for this sale can be found here. Insiders have sold 26,110 shares of company stock valued at $1,555,296 in the last ninety days. 49.30% of the stock is owned by company insiders.
About DISH Network Corporation
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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