DISH Network Corporation (DISH) Position Reduced by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. cut its position in shares of DISH Network Corporation (NASDAQ:DISH) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 116,400 shares of the company’s stock after selling 1,100 shares during the period. Pictet Asset Management Ltd.’s holdings in DISH Network Corporation were worth $7,423,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Exxonmobil Investment Management Inc. TX bought a new stake in DISH Network Corporation during the first quarter worth approximately $3,199,000. Bank of Montreal Can increased its stake in DISH Network Corporation by 7.9% in the first quarter. Bank of Montreal Can now owns 192,909 shares of the company’s stock worth $12,247,000 after buying an additional 14,054 shares in the last quarter. Capstone Asset Management Co. increased its stake in DISH Network Corporation by 235.9% in the first quarter. Capstone Asset Management Co. now owns 16,247 shares of the company’s stock worth $1,032,000 after buying an additional 11,410 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in DISH Network Corporation during the first quarter worth approximately $239,000. Finally, Louisiana State Employees Retirement System bought a new stake in DISH Network Corporation during the first quarter worth approximately $883,000. Institutional investors and hedge funds own 49.76% of the company’s stock.
DISH Network Corporation (NASDAQ:DISH) opened at 58.15 on Wednesday. The stock’s 50 day moving average price is $63.07 and its 200 day moving average price is $62.74. The firm has a market capitalization of $27.10 billion, a PE ratio of 27.05 and a beta of 0.96. DISH Network Corporation has a 52-week low of $48.51 and a 52-week high of $66.50.
DISH Network Corporation (NASDAQ:DISH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business posted $0.88 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. On average, analysts predict that DISH Network Corporation will post $2.37 EPS for the current fiscal year.
DISH has been the subject of a number of recent analyst reports. Macquarie downgraded DISH Network Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $61.00 in a report on Tuesday, April 18th. SunTrust Banks, Inc. initiated coverage on DISH Network Corporation in a report on Tuesday, April 18th. They issued a “hold” rating and a $60.00 price objective for the company. Deutsche Bank AG dropped their price objective 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. Barclays PLC upgraded DISH Network Corporation from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $62.00 to $74.00 in a report on Thursday, April 27th. Finally, Hilliard Lyons downgraded DISH Network Corporation from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $70.31.
In related news, CEO Roger Lynch sold 25,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP R Stanton Dodge sold 1,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $66.20, for a total value of $66,200.00. The disclosure for this sale can be found here. Insiders sold a total of 26,100 shares of company stock valued at $1,565,779 over the last ninety days. 49.30% of the stock is currently owned by corporate 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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