Cigna Investments Inc. New Cuts Stake in DISH Network Corporation (NASDAQ:DISH)
Cigna Investments Inc. New lowered its position in DISH Network Corporation (NASDAQ:DISH) by 7.0% during the second quarter, Holdings Channel reports. The fund owned 8,706 shares of the company’s stock after selling 651 shares during the period. Cigna Investments Inc. New’s holdings in DISH Network Corporation were worth $546,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Elkfork Partners LLC purchased a new stake in shares of DISH Network Corporation during the first quarter worth about $110,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of 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 worth $121,000 after buying an additional 1,859 shares during the last quarter. Meadow Creek Investment Management LLC purchased a new stake in shares of DISH Network Corporation during the first quarter worth about $141,000. Huntington National Bank boosted its stake in shares of DISH Network Corporation by 0.8% in the first quarter. Huntington National Bank now owns 2,319 shares of the company’s stock worth $147,000 after buying an additional 19 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of DISH Network Corporation by 35.0% in the first quarter. First Manhattan Co. now owns 2,700 shares of the company’s stock worth $147,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 49.76% of the company’s stock.
DISH Network Corporation (DISH) opened at 58.72 on Tuesday. DISH Network Corporation has a 12 month low of $48.51 and a 12 month high of $66.50. The firm has a 50 day moving average price of $63.23 and a 200-day moving average price of $62.75. The firm has a market capitalization of $27.37 billion, a price-to-earnings ratio of 27.31 and a beta of 0.96.
DISH Network Corporation (NASDAQ:DISH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.67. The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. On average, equities analysts forecast that DISH Network Corporation will post $2.38 EPS for the current year.
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A number of analysts have recently issued reports on DISH shares. Jefferies Group LLC reiterated a “buy” rating and set a $80.00 target price on shares of DISH Network Corporation in a report on Tuesday, May 2nd. Goldman Sachs Group, Inc. (The) decreased their target price on DISH Network Corporation from $84.00 to $83.00 and set a “buy” rating for the company in a report on Tuesday, May 2nd. Deutsche Bank AG decreased their target price on DISH Network Corporation from $103.00 to $102.00 and set a “buy” rating for the company in a report on Wednesday, April 19th. BidaskClub upgraded DISH Network Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, TheStreet cut DISH Network Corporation from a “b” rating to a “c+” rating in a report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $70.31.
In other DISH Network Corporation news, EVP R Stanton Dodge sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $66.20, for a total value of $66,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Roger Lynch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $59.73, for a total value of $1,493,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,100 shares of company stock worth $1,565,779. 49.30% of the stock is currently owned by insiders.
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.
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