Dish Network Corp. (DISH) Short Interest Down 11.5% in November
Dish Network Corp. (NASDAQ:DISH) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 12,702,628 shares, a decrease of 11.5% from the October 31st total of 14,358,935 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average daily volume of 2,585,455 shares, the short-interest ratio is currently 4.9 days.
A number of brokerages have weighed in on DISH. Zacks Investment Research upgraded Dish Network Corp. from a “hold” rating to a “strong-buy” rating and set a $60.00 price target for the company in a report on Wednesday, September 21st. Macquarie upgraded Dish Network Corp. from a “neutral” rating to an “outperform” rating and set a $62.00 price target for the company in a report on Tuesday, August 9th. FBR & Co increased their price target on Dish Network Corp. from $46.00 to $48.00 and gave the stock an “underperform” rating in a report on Friday, November 11th. Jefferies Group reiterated a “buy” rating and set a $80.00 price target on shares of Dish Network Corp. in a report on Friday, August 26th. Finally, Pivotal Research increased their price target on Dish Network Corp. from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Dish Network Corp. presently has an average rating of “Hold” and an average target price of $67.96.
Shares of Dish Network Corp. (NASDAQ:DISH) opened at 55.93 on Monday. The company has a market cap of $26.00 billion, a PE ratio of 29.88 and a beta of 1.05. Dish Network Corp. has a 12-month low of $38.85 and a 12-month high of $63.80. The company has a 50 day moving average of $56.49 and a 200-day moving average of $52.72.
Dish Network Corp. (NASDAQ:DISH) last posted its quarterly earnings results on Wednesday, November 9th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.04. Dish Network Corp. had a net margin of 6.48% and a return on equity of 40.84%. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts anticipate that Dish Network Corp. will post $3.01 earnings per share for the current year.
In related news, insider Carl E. Vogel sold 30,000 shares of the stock in a transaction on Monday, September 26th. The stock was sold at an average price of $53.54, for a total value of $1,606,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 49.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its stake in Dish Network Corp. by 57.4% in the third quarter. Toronto Dominion Bank now owns 1,953 shares of the company’s stock worth $107,000 after buying an additional 712 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Dish Network Corp. by 25.0% in the third quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock worth $110,000 after buying an additional 400 shares during the last quarter. Mycio Wealth Partners LLC purchased a new stake in Dish Network Corp. during the second quarter worth approximately $126,000. Northwestern Mutual Wealth Management Co. boosted its stake in Dish Network Corp. by 306.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock worth $128,000 after buying an additional 1,841 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Dish Network Corp. during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 45.99% of the company’s stock.
Dish Network Corp. Company Profile
DISH Network Corporation is a holding company. The Company operates through two segments: DISH 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 (DBS) and Fixed Satellite Service (FSS) 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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