Summit Securities Group LLC acquired a new position in shares of DISH Network Corporation (NASDAQ:DISH) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,925 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors have also added to or reduced their stakes in the company. DnB Asset Management AS increased its position in DISH Network Corporation by 16.8% in the first quarter. DnB Asset Management AS now owns 27,753 shares of the company’s stock worth $1,762,000 after buying an additional 4,000 shares in the last quarter. Gateway Investment Advisers LLC increased its position in DISH Network Corporation by 46.9% in the first quarter. Gateway Investment Advisers LLC now owns 47,795 shares of the company’s stock worth $3,035,000 after buying an additional 15,255 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in DISH Network Corporation by 23.1% in the first quarter. Reliance Trust Co. of Delaware now owns 23,657 shares of the company’s stock worth $1,502,000 after buying an additional 4,439 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in DISH Network Corporation during the first quarter worth about $883,000. Finally, Doyle Wealth Management acquired a new position in DISH Network Corporation during the first quarter worth about $8,056,000. Hedge funds and other institutional investors own 49.99% of the company’s stock.

DISH Network Corporation (NASDAQ DISH) opened at 58.46 on Friday. The company’s 50 day moving average is $63.38 and its 200 day moving average is $62.74. DISH Network Corporation has a one year low of $48.51 and a one year high of $66.50. The stock has a market cap of $27.25 billion, a PE ratio of 27.19 and a beta of 0.96.

DISH Network Corporation (NASDAQ:DISH) last issued its earnings results on Wednesday, August 2nd. The company reported $0.09 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities research analysts expect that DISH Network Corporation will post $2.38 EPS for the current year.

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A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of DISH Network Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Wunderlich reiterated a “sell” rating and set a $54.00 price objective on shares of DISH Network Corporation in a research note on Monday, June 12th. Hilliard Lyons downgraded shares of DISH Network Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, May 1st. Citigroup Inc. downgraded shares of DISH Network Corporation from a “buy” rating to a “sell” rating and dropped their price objective for the company from $94.00 to $52.00 in a research note on Wednesday, July 26th. Finally, Macquarie reiterated a “hold” rating and set a $68.00 price objective on shares of DISH Network Corporation in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently 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 company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP R Stanton Dodge sold 1,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $66.20, for a total transaction of $66,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,100 shares of company stock valued at $1,565,779. 49.30% of the stock is 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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Institutional Ownership by Quarter for DISH Network Corporation (NASDAQ:DISH)

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