Fifth Third Bancorp boosted its position in shares of DISH Network Co. (NASDAQ:DISH – Get Rating) by 178.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,202 shares of the company’s stock after buying an additional 5,899 shares during the period. Fifth Third Bancorp’s holdings in DISH Network were worth $291,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Westpac Banking Corp increased its stake in DISH Network by 2.2% during the 4th quarter. Westpac Banking Corp now owns 16,440 shares of the company’s stock worth $533,000 after buying an additional 348 shares in the last quarter. Eaton Vance Management increased its stake in DISH Network by 1.4% during the 4th quarter. Eaton Vance Management now owns 44,104 shares of the company’s stock worth $1,316,000 after buying an additional 621 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in DISH Network by 2.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 28,047 shares of the company’s stock worth $910,000 after buying an additional 687 shares in the last quarter. Kentucky Retirement Systems increased its stake in DISH Network by 5.3% during the 4th quarter. Kentucky Retirement Systems now owns 15,298 shares of the company’s stock worth $496,000 after buying an additional 769 shares in the last quarter. Finally, Merrion Investment Management Co LLC boosted its holdings in shares of DISH Network by 1.2% during the 4th quarter. Merrion Investment Management Co LLC now owns 77,400 shares of the company’s stock worth $2,510,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 46.90% of the company’s stock.
In related news, Director James Defranco acquired 400,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $19.27 per share, with a total value of $7,708,000.00. Following the completion of the transaction, the director now owns 1,661,428 shares of the company’s stock, valued at $32,015,717.56. The acquisition 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.
NASDAQ:DISH opened at $18.06 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.66 and a debt-to-equity ratio of 1.12. The stock’s fifty day moving average is $20.59 and its two-hundred day moving average is $27.90. DISH Network Co. has a 52 week low of $16.20 and a 52 week high of $46.31. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.95.DISH Network (NASDAQ:DISH – Get Rating) last released its quarterly earnings results on Friday, May 6th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). DISH Network had a return on equity of 14.81% and a net margin of 12.49%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that DISH Network Co. will post 2.4 EPS for the current fiscal year.
Several brokerages have recently weighed in on DISH. StockNews.com began coverage on DISH Network in a report on Thursday, March 31st. They set a “sell” rating on the stock. Raymond James lowered their target price on DISH Network from $49.00 to $42.00 in a report on Monday, May 9th. Barclays lowered 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. Credit Suisse Group upgraded DISH Network from a “neutral” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Monday, May 9th. Finally, Pivotal Research lowered their target price on DISH Network from $50.00 to $40.00 in a report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.
About DISH Network (Get Rating)
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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Fifth Third Bancorp Boosts Stock Holdings in DISH Network Co. (NASDAQ:DISH) - Defense World
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