First Mercantile Trust Co. Reduces Position in DISH Network Corporation (NASDAQ:DISH)
First Mercantile Trust Co. cut its position in shares of DISH Network Corporation (NASDAQ:DISH) by 38.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,718 shares of the company’s stock after selling 11,255 shares during the period. First Mercantile Trust Co.’s holdings in DISH Network Corporation were worth $1,111,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Elkfork Partners LLC bought a new stake in shares of DISH Network Corporation during the first quarter worth $110,000. Bronfman E.L. Rothschild L.P. increased 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 period. Meadow Creek Investment Management LLC bought a new stake in shares of DISH Network Corporation during the first quarter worth $141,000. Huntington National Bank increased 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 period. Finally, Invictus RG bought a new stake in shares of DISH Network Corporation during the first quarter worth $160,000. 49.99% of the stock is owned by hedge funds and other institutional investors.
Shares of DISH Network Corporation (DISH) opened at 58.46 on Friday. DISH Network Corporation has a 52-week low of $48.51 and a 52-week high of $66.50. The firm has a market cap of $27.25 billion, a PE ratio of 27.19 and a beta of 0.96. The firm has a 50-day moving average of $63.38 and a 200 day moving average of $62.74.
DISH Network Corporation (NASDAQ:DISH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.67. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company earned $0.88 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that DISH Network Corporation will post $2.38 earnings per share for the current year.
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A number of brokerages have weighed in on DISH. UBS AG reissued a “neutral” rating and issued a $68.00 price target (up from $63.00) on shares of DISH Network Corporation in a report on Tuesday, May 2nd. Macquarie reissued a “hold” rating and issued a $68.00 price target on shares of DISH Network Corporation in a report on Thursday, August 3rd. Royal Bank Of Canada set a $56.00 price target on shares of DISH Network Corporation and gave the company a “hold” rating in a report on Saturday, May 20th. Telsey Advisory Group reduced their price target on shares of DISH Network Corporation from $62.00 to $56.00 and set a “market perform” rating for the company in a report on Friday, August 4th. Finally, TheStreet cut shares of DISH Network Corporation from a “b” rating to a “c+” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. DISH Network Corporation currently has a consensus rating of “Hold” and an average price target of $70.31.
In related news, EVP R Stanton Dodge sold 1,000 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Roger Lynch sold 25,000 shares of the company’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. Insiders sold 26,100 shares of company stock valued at $1,565,779 in the last ninety days. 49.30% of the stock is currently owned by insiders.
About DISH Network Corporation
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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