Warlander Asset Management LP Lowers Stake in DISH Network Corp (DISH)
Warlander Asset Management LP cut its holdings in shares of DISH Network Corp (NASDAQ:DISH) by 25.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 450,000 shares of the company’s stock after selling 154,427 shares during the period. DISH Network comprises about 20.3% of Warlander Asset Management LP’s investment portfolio, making the stock its 4th biggest holding. Warlander Asset Management LP owned approximately 0.10% of DISH Network worth $16,092,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in DISH. OppenheimerFunds Inc. lifted its position in shares of DISH Network by 1.3% during the second quarter. OppenheimerFunds Inc. now owns 517,875 shares of the company’s stock worth $17,406,000 after purchasing an additional 6,880 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of DISH Network during the third quarter worth about $1,311,000. Commonwealth Bank of Australia lifted its position in shares of DISH Network by 7,273.2% during the second quarter. Commonwealth Bank of Australia now owns 21,456 shares of the company’s stock worth $715,000 after purchasing an additional 21,165 shares during the last quarter. Signet Financial Management LLC lifted its position in shares of DISH Network by 188,000.0% during the second quarter. Signet Financial Management LLC now owns 3,762 shares of the company’s stock worth $126,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of DISH Network by 140.2% during the second quarter. Trexquant Investment LP now owns 131,950 shares of the company’s stock worth $4,435,000 after purchasing an additional 77,026 shares during the last quarter. Institutional investors own 48.64% of the company’s stock.
In related news, insider James Defranco acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were acquired at an average price of $34.99 per share, for a total transaction of $174,950.00. Following the completion of the purchase, the insider now directly owns 1,203,529 shares of the company’s stock, valued at $42,111,479.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 130,000 shares of company stock worth $4,172,350 in the last quarter. Company insiders own 49.20% of the company’s stock.
DISH Network (NASDAQ:DISH) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.15. DISH Network had a return on equity of 20.26% and a net margin of 19.01%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts forecast that DISH Network Corp will post 2.96 EPS for the current year.
Several equities analysts have recently commented on DISH shares. Zacks Investment Research raised shares of DISH Network from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Monday, September 17th. Pivotal Research cut their target price on shares of DISH Network from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Guggenheim raised shares of DISH Network from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $50.00 in a report on Wednesday, October 24th. Moffett Nathanson cut DISH Network from a “neutral” rating to a “sell” rating and set a $29.00 price target on the stock. in a report on Monday, August 13th. Finally, Macquarie cut DISH Network from a “neutral” rating to an “underperform” rating and cut their price target for the company from $36.00 to $31.00 in a report on Tuesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $38.69.
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DISH Network Profile
DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
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