King Luther Capital Management Corp lowered its position in shares of DISH Network Corp (NASDAQ:DISH) by 26.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,832 shares of the company’s stock after selling 52,526 shares during the quarter. King Luther Capital Management Corp’s holdings in DISH Network were worth $5,179,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of DISH Network by 194.4% during the third quarter. Renaissance Technologies LLC now owns 299,979 shares of the company’s stock worth $10,727,000 after buying an additional 198,100 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of DISH Network by 69.4% during the third quarter. Tower Research Capital LLC TRC now owns 11,210 shares of the company’s stock worth $401,000 after buying an additional 4,592 shares during the period. GSA Capital Partners LLP bought a new stake in DISH Network during the third quarter worth about $955,000. Stevens Capital Management LP bought a new stake in DISH Network during the third quarter worth about $3,221,000. Finally, Standard Life Aberdeen plc raised its holdings in DISH Network by 35.3% during the third quarter. Standard Life Aberdeen plc now owns 114,769 shares of the company’s stock worth $4,105,000 after acquiring an additional 29,929 shares in the last quarter. Institutional investors own 48.64% of the company’s stock.
DISH opened at $31.93 on Friday. DISH Network Corp has a 52-week low of $27.54 and a 52-week high of $50.49. The stock has a market cap of $14.97 billion, a P/E ratio of 12.57 and a beta of 1.22. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.56 and a current ratio of 0.62.
DISH Network (NASDAQ:DISH) last released its earnings results on Wednesday, November 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.40 billion. DISH Network’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share. Equities research analysts predict that DISH Network Corp will post 2.96 EPS for the current year.
Several analysts recently issued reports on the company. Wolfe Research assumed coverage on DISH Network in a report on Friday. They set a “market perform” rating on the stock. Morgan Stanley dropped their target price on DISH Network from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday. Royal Bank of Canada set a $40.00 target price on DISH Network and gave the stock a “hold” rating in a report on Monday, November 19th. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, November 13th. Finally, Macquarie reiterated a “sell” rating and set a $30.00 target price on shares of DISH Network in a report on Sunday, November 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.54.
In other DISH Network news, insider James Defranco acquired 25,000 shares of the company’s stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $29.00 per share, for a total transaction of $725,000.00. Following the completion of the purchase, the insider now directly owns 1,248,529 shares of the company’s stock, valued at $36,207,341. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 135,000 shares of company stock worth $4,337,300 in the last 90 days. Corporate insiders own 49.20% of the company’s stock.
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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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