KBC Group NV Lowers Position in DISH Network Corp (DISH)
KBC Group NV lowered its stake in DISH Network Corp (NASDAQ:DISH) by 55.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,445 shares of the company’s stock after selling 34,190 shares during the period. KBC Group NV’s holdings in DISH Network were worth $1,488,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of DISH. American Century Companies Inc. grew its holdings in DISH Network by 184.5% during the 2nd quarter. American Century Companies Inc. now owns 1,430,365 shares of the company’s stock worth $89,770,000 after acquiring an additional 927,537 shares during the period. FMR LLC boosted its position in shares of DISH Network by 22.7% during the second quarter. FMR LLC now owns 4,498,307 shares of the company’s stock worth $282,314,000 after purchasing an additional 831,768 shares in the last quarter. Paulson & CO. Inc. boosted its position in shares of DISH Network by 15.9% during the second quarter. Paulson & CO. Inc. now owns 3,998,800 shares of the company’s stock worth $250,965,000 after purchasing an additional 548,700 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of DISH Network by 134.8% during the second quarter. Teachers Advisors LLC now owns 815,292 shares of the company’s stock worth $51,168,000 after purchasing an additional 468,003 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of DISH Network by 2.9% during the second quarter. Vanguard Group Inc. now owns 14,678,892 shares of the company’s stock worth $921,246,000 after purchasing an additional 409,704 shares in the last quarter. 48.58% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the stock. Guggenheim reissued a “neutral” rating and set a $62.00 price target (down from $68.00) on shares of DISH Network in a research report on Thursday, August 24th. Wells Fargo & Company restated an “outperform” rating and set a $88.50 price objective on shares of DISH Network in a research note on Thursday, August 31st. BidaskClub lowered shares of DISH Network from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Macquarie restated a “hold” rating and set a $60.00 price objective (down from $68.00) on shares of DISH Network in a research note on Monday, October 2nd. Finally, Deutsche Bank restated a “buy” rating and set a $99.00 price objective on shares of DISH Network in a research note on Thursday, October 5th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.92.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.03). DISH Network had a net margin of 7.22% and a return on equity of 25.97%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same quarter last year, the company posted $0.64 EPS. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. equities analysts forecast that DISH Network Corp will post 1.98 earnings per share for the current year.
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DISH Network 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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