Daiwa Securities Group Inc. cut its holdings in DISH Network Co. (NASDAQ:DISH – Get Rating) by 99.8% during the 1st quarter, HoldingsChannel reports. The fund owned 15,361 shares of the company’s stock after selling 7,498,843 shares during the quarter. Daiwa Securities Group Inc.’s holdings in DISH Network were worth $486,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. AustralianSuper Pty Ltd increased its holdings in shares of DISH Network by 54.3% during the first quarter. AustralianSuper Pty Ltd now owns 250,606 shares of the company’s stock worth $7,932,000 after purchasing an additional 88,186 shares during the period. CKW Financial Group increased its stake in DISH Network by 61.5% during the 1st quarter. CKW Financial Group now owns 2,100 shares of the company’s stock worth $68,000 after acquiring an additional 800 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in DISH Network by 17.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 22,909 shares of the company’s stock valued at $745,000 after acquiring an additional 3,412 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in shares of DISH Network by 0.3% during the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 150,131 shares of the company’s stock valued at $4,752,000 after acquiring an additional 376 shares during the period. Finally, Dupont Capital Management Corp grew its holdings in shares of DISH Network by 16.7% during the 1st quarter. Dupont Capital Management Corp now owns 2,849 shares of the company’s stock worth $90,000 after purchasing an additional 408 shares in the last quarter. 46.90% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on DISH shares. Benchmark cut their price objective on shares of DISH Network from $50.00 to $37.00 in a research report on Monday, May 9th. Raymond James decreased their price objective on shares of DISH Network from $49.00 to $42.00 in a research note on Monday, May 9th. Citigroup lowered their price objective on shares of DISH Network from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, May 23rd. Barclays reduced their target price on DISH Network from $25.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on DISH Network from $67.00 to $61.00 in a research report on Monday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DISH Network currently has an average rating of “Moderate Buy” and an average price target of $41.08.
DISH Network Stock Performance
DISH Network stock opened at $18.70 on Monday. The business has a 50 day moving average of $19.25 and a 200-day moving average of $26.69. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.66 and a quick ratio of 0.59. DISH Network Co. has a 1 year low of $16.20 and a 1 year high of $46.31. The company has a market capitalization of $9.91 billion, a P/E ratio of 5.36, a P/E/G ratio of 1.26 and a beta of 1.95.DISH Network (NASDAQ:DISH – Get Rating) last announced its quarterly earnings results on Friday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.01). The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.39 billion. DISH Network had a net margin of 12.49% and a return on equity of 14.81%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities research analysts predict that DISH Network Co. will post 2.5 earnings per share for the current year.
Insider Buying and Selling
In related news, Director James Defranco purchased 400,000 shares of DISH Network stock in a transaction on Thursday, May 12th. The shares were purchased at an average price of $19.27 per share, for a total transaction of $7,708,000.00. Following the transaction, the director now owns 1,661,428 shares of the company’s stock, valued at approximately $32,015,717.56. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 53.30% of the stock is owned by corporate insiders.
About DISH Network
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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Daiwa Securities Group Inc. Has $486000 Stock Position in DISH Network Co. (NASDAQ:DISH) - Defense World
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