Stock Traders Buy High Volume of Call Options on DISH Network (DISH)
DISH Network Corp (NASDAQ:DISH) was the recipient of unusually large options trading on Wednesday. Traders purchased 17,884 call options on the company. This represents an increase of 1,307% compared to the typical volume of 1,271 call options.
In other news, insider James Defranco acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, January 23rd. The stock was purchased at an average cost of $29.44 per share, for a total transaction of $588,800.00. Following the acquisition, the insider now owns 1,468,529 shares of the company’s stock, valued at $43,233,493.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 75,000 shares of company stock valued at $2,240,500 over the last quarter. Company insiders own 52.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in DISH Network by 0.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 144,780 shares of the company’s stock valued at $3,435,000 after acquiring an additional 506 shares during the period. Bessemer Group Inc. boosted its holdings in DISH Network by 23.1% during the 4th quarter. Bessemer Group Inc. now owns 2,950 shares of the company’s stock valued at $73,000 after acquiring an additional 554 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in DISH Network by 8.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 12,566 shares of the company’s stock valued at $314,000 after acquiring an additional 1,000 shares during the period. Wakefield Asset Management LLLP purchased a new stake in DISH Network during the 4th quarter valued at about $27,000. Finally, State of Alaska Department of Revenue raised its position in DISH Network by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 47,268 shares of the company’s stock valued at $1,497,000 after purchasing an additional 1,122 shares during the last quarter. Institutional investors own 48.21% of the company’s stock.
DISH Network (NASDAQ:DISH) last issued its earnings results on Wednesday, February 13th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.03). The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.27 billion. DISH Network had a net margin of 11.56% and a return on equity of 19.71%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. As a group, equities research analysts expect that DISH Network will post 2.53 EPS for the current fiscal year.
DISH has been the subject of a number of research reports. Royal Bank of Canada cut their price objective on DISH Network to $33.00 and set a “market perform” rating for the company in a report on Tuesday, February 19th. BidaskClub upgraded DISH Network from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Thursday, January 10th. Pivotal Research reiterated a “buy” rating and issued a $37.00 price objective on shares of DISH Network in a report on Wednesday, February 13th. Finally, HSBC cut DISH Network from a “hold” rating to a “reduce” rating in a report on Friday, January 25th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. DISH Network presently has a consensus rating of “Hold” and an average price target of $37.71.
About DISH Network
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.
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