Cadence Capital Management LLC Acquires New Position in DISH Network Corp (DISH)
Cadence Capital Management LLC acquired a new position in DISH Network Corp (NASDAQ:DISH) in the third quarter, HoldingsChannel reports. The fund acquired 6,048 shares of the company’s stock, valued at approximately $216,000.
Other large investors have also added to or reduced their stakes in the company. Signet Financial Management LLC lifted its position in shares of DISH Network by 188,000.0% during the second quarter. Signet Financial Management LLC now owns 3,762 shares of the company’s stock valued at $126,000 after buying an additional 3,760 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of DISH Network by 293.5% during the second quarter. Tower Research Capital LLC TRC now owns 6,618 shares of the company’s stock valued at $222,000 after buying an additional 4,936 shares during the last quarter. Insight 2811 Inc. purchased a new stake in shares of DISH Network during the second quarter valued at about $233,000. Qube Research & Technologies Ltd purchased a new stake in shares of DISH Network during the second quarter valued at about $234,000. Finally, We Are One Seven LLC purchased a new stake in shares of DISH Network during the third quarter valued at about $272,000. 48.17% of the stock is owned by institutional investors.
In related news, insider James Defranco acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were purchased at an average price of $34.99 per share, for a total transaction of $174,950.00. Following the completion of the acquisition, the insider now directly owns 1,203,529 shares in the company, valued at approximately $42,111,479.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have bought 115,000 shares of company stock worth $3,688,150. Corporate insiders own 49.20% of the company’s stock.
DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.15. DISH Network had a net margin of 19.01% and a return on equity of 20.26%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts anticipate that DISH Network Corp will post 2.84 earnings per share for the current fiscal year.
DISH has been the subject of several analyst reports. Zacks Investment Research raised shares of DISH Network from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, August 29th. Pivotal Research reissued a “buy” rating and set a $40.00 price target on shares of DISH Network in a research report on Monday, August 6th. Cowen reissued a “buy” rating and set a $60.00 price target on shares of DISH Network in a research report on Monday, August 6th. Guggenheim raised shares of DISH Network from a “neutral” rating to a “buy” rating and increased their price target for the company from $32.00 to $50.00 in a research report on Wednesday, October 24th. Finally, Morgan Stanley increased their price target on shares of DISH Network from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $39.77.
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DISH Network Profile
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
Further Reading: Asset Allocation
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