Insider Selling: DISH Network Corporation (DISH) EVP Sells $44,438.85 in Stock
DISH Network Corporation (NASDAQ:DISH) EVP Jeffrey L. Mcschooler sold 785 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $56.61, for a total value of $44,438.85. Following the completion of the transaction, the executive vice president now owns 165 shares in the company, valued at $9,340.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of DISH Network Corporation (NASDAQ:DISH) traded up 2.06% during mid-day trading on Friday, hitting $58.47. The company had a trading volume of 1,627,093 shares. The firm has a 50-day moving average price of $60.73 and a 200 day moving average price of $62.39. DISH Network Corporation has a 52-week low of $48.51 and a 52-week high of $66.50. The firm has a market capitalization of $27.25 billion, a price-to-earnings ratio of 27.20 and a beta of 0.99.
DISH Network Corporation (NASDAQ:DISH) last posted its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.67. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. Analysts expect that DISH Network Corporation will post $2.23 earnings per share for the current year.
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DISH has been the topic of several research analyst reports. Wells Fargo & Company restated an “outperform” rating on shares of DISH Network Corporation in a research report on Wednesday, May 17th. Royal Bank Of Canada set a $56.00 price objective on DISH Network Corporation and gave the company a “hold” rating in a research report on Saturday, May 20th. Wunderlich restated a “sell” rating and issued a $54.00 price objective on shares of DISH Network Corporation in a research report on Monday, June 12th. BidaskClub downgraded DISH Network Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Citigroup Inc. downgraded DISH Network Corporation from a “buy” rating to a “sell” rating and lowered their price objective for the company from $94.00 to $52.00 in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.87.
A number of hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC increased its position in DISH Network Corporation by 20,725.0% in the second quarter. Sun Life Financial INC now owns 1,666 shares of the company’s stock valued at $105,000 after buying an additional 1,658 shares during the period. Elkfork Partners LLC acquired a new position in DISH Network Corporation during the first quarter valued at approximately $110,000. Bronfman E.L. Rothschild L.P. increased its position in DISH Network Corporation by 3,872.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,907 shares of the company’s stock valued at $121,000 after buying an additional 1,859 shares during the period. Meadow Creek Investment Management LLC acquired a new position in DISH Network Corporation during the first quarter valued at approximately $141,000. Finally, Huntington National Bank increased its position in DISH Network Corporation by 0.8% in the first quarter. Huntington National Bank now owns 2,319 shares of the company’s stock valued at $147,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 48.91% of the company’s stock.
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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