DISH Network Co. (NASDAQ:DISH – Get Rating) was the target of some unusual options trading activity on Wednesday. Investors purchased 40,464 put options on the company. This represents an increase of approximately 180% compared to the average daily volume of 14,446 put options.
Insider Activity
In other DISH Network news, Director James Defranco bought 35,620 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average cost of $18.66 per share, for a total transaction of $664,669.20. Following the acquisition, the director now owns 389,927 shares of the company’s stock, valued at approximately $7,276,037.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 343,585 shares of company stock worth $6,200,060 in the last 90 days. 53.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of DISH Network by 268.9% during the 1st quarter. Covestor Ltd now owns 889 shares of the company’s stock valued at $28,000 after acquiring an additional 648 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in DISH Network during the 1st quarter valued at $30,000. Trust Co. of Vermont acquired a new position in DISH Network during the 2nd quarter valued at $43,000. CVA Family Office LLC acquired a new position in DISH Network during the 2nd quarter valued at $54,000. Finally, Rosenberg Matthew Hamilton acquired a new position in DISH Network during the 1st quarter valued at $61,000. Institutional investors and hedge funds own 46.90% of the company’s stock.
Wall Street Analyst Weigh In
DISH has been the topic of several research analyst reports. Credit Suisse Group raised shares of DISH Network from a “neutral” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Monday, May 9th. Royal Bank of Canada cut their target price on shares of DISH Network from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Thursday, August 4th. Citigroup cut their target price on shares of DISH Network from $46.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Raymond James cut their target price on shares of DISH Network from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 4th. Finally, Barclays cut their target price on shares of DISH Network from $25.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.21.DISH Network Stock Performance
Shares of DISH stock opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.64 and a quick ratio of 0.56. DISH Network has a fifty-two week low of $16.20 and a fifty-two week high of $46.31. The stock’s 50-day moving average is $18.15 and its two-hundred day moving average is $24.46. The firm has a market cap of $9.28 billion, a P/E ratio of 5.38, a PEG ratio of 1.15 and a beta of 1.85.
DISH Network Company 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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August 25, 2022 at 12:01PM
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Traders Purchase Large Volume of DISH Network Put Options (NASDAQ:DISH) - Defense World
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