DISH Network Corp (DISH) Position Lowered by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan lowered its position in DISH Network Corp (NASDAQ:DISH) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,880 shares of the company’s stock after selling 1,430 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in DISH Network were worth $319,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. increased its holdings in DISH Network by 49.1% during the 3rd quarter. YHB Investment Advisors Inc. now owns 60,645 shares of the company’s stock worth $3,289,000 after purchasing an additional 19,970 shares in the last quarter. Swiss National Bank increased its holdings in DISH Network by 1.0% during the 3rd quarter. Swiss National Bank now owns 837,409 shares of the company’s stock worth $45,413,000 after purchasing an additional 8,300 shares in the last quarter. Scout Investments Inc. increased its holdings in DISH Network by 3.0% during the 3rd quarter. Scout Investments Inc. now owns 213,904 shares of the company’s stock worth $11,600,000 after purchasing an additional 6,239 shares in the last quarter. Prudential Financial Inc. increased its holdings in DISH Network by 0.7% during the 3rd quarter. Prudential Financial Inc. now owns 314,995 shares of the company’s stock worth $17,081,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Smith Moore & CO. bought a new position in DISH Network during the 3rd quarter worth about $315,000. Institutional investors and hedge funds own 48.58% of the company’s stock.
A number of equities analysts have issued reports on the company. Deutsche Bank reiterated a “buy” rating and set a $99.00 target price on shares of DISH Network in a report on Thursday, October 5th. Barclays lowered their target price on DISH Network from $74.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, November 10th. Zacks Investment Research upgraded DISH Network from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and set a $80.00 target price on shares of DISH Network in a report on Monday, September 25th. Finally, Macquarie reiterated a “hold” rating and set a $60.00 target price (down previously from $68.00) on shares of DISH Network in a report on Monday, October 2nd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. DISH Network currently has an average rating of “Hold” and an average price target of $63.92.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.60 billion. DISH Network had a net margin of 7.22% and a return on equity of 25.97%. DISH Network’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. sell-side analysts expect that DISH Network Corp will post 1.98 earnings per share for the current fiscal year.
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DISH Network 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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