DISH Network Corporation (DISH) Holdings Cut by Bank of Nova Scotia
Bank of Nova Scotia reduced its stake in shares of DISH Network Corporation (NASDAQ:DISH) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,266 shares of the company’s stock after selling 551 shares during the quarter. Bank of Nova Scotia’s holdings in DISH Network Corporation were worth $3,217,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department raised its stake in DISH Network Corporation by 10.4% during the second quarter. State of Tennessee Treasury Department now owns 168,943 shares of the company’s stock worth $10,603,000 after acquiring an additional 15,978 shares in the last quarter. Swiss National Bank raised its stake in DISH Network Corporation by 3.3% during the second quarter. Swiss National Bank now owns 829,109 shares of the company’s stock worth $52,035,000 after acquiring an additional 26,200 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in DISH Network Corporation during the second quarter worth $304,000. Artemis Investment Management LLP raised its stake in DISH Network Corporation by 29.8% during the second quarter. Artemis Investment Management LLP now owns 129,944 shares of the company’s stock worth $8,156,000 after acquiring an additional 29,821 shares in the last quarter. Finally, CenturyLink Investment Management Co acquired a new position in DISH Network Corporation during the second quarter worth $883,000. Hedge funds and other institutional investors own 48.92% of the company’s stock.
DISH Network Corporation (NASDAQ:DISH) opened at 49.71 on Thursday. DISH Network Corporation has a one year low of $47.48 and a one year high of $66.50. The company has a market cap of $23.17 billion, a PE ratio of 23.12 and a beta of 0.99. The firm’s 50-day moving average price is $53.42 and its 200-day moving average price is $60.20.
DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.67). DISH Network Corporation had a return on equity of 27.88% and a net margin of 7.21%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the company earned $0.88 EPS. DISH Network Corporation’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities research analysts forecast that DISH Network Corporation will post $2.15 earnings per share for the current fiscal year.
Several research analysts have issued reports on DISH shares. BidaskClub lowered DISH Network Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Morgan Stanley restated a “buy” rating and set a $75.00 target price on shares of DISH Network Corporation in a report on Tuesday. Telsey Advisory Group decreased their target price on DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating on the stock in a report on Friday, August 4th. Guggenheim restated a “neutral” rating and set a $62.00 target price (down previously from $68.00) on shares of DISH Network Corporation in a report on Thursday, August 24th. Finally, Citigroup Inc. upgraded DISH Network Corporation from a “sell” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. DISH Network Corporation has a consensus rating of “Hold” and an average target price of $67.38.
In other DISH Network Corporation news, CEO Roger Lynch sold 25,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $59.73, for a total value of $1,493,250.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $44,438.85. Following the completion of the sale, the executive vice president now owns 165 shares in the company, valued at approximately $9,340.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,110 shares of company stock valued at $1,555,296. Insiders own 49.30% of the company’s stock.
DISH Network Corporation Company Profile
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.
Want to see what other hedge funds are holding DISH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DISH Network Corporation (NASDAQ:DISH).
Receive News & Stock Ratings for DISH Network Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DISH Network Corporation and related stocks with our FREE daily email newsletter.