Reliance Trust Co. of Delaware Raises Stake in DISH Network Corp (DISH)
Reliance Trust Co. of Delaware boosted its position in shares of DISH Network Corp (NASDAQ:DISH) by 23.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,657 shares of the company’s stock after buying an additional 4,439 shares during the period. Reliance Trust Co. of Delaware’s holdings in DISH Network Corp were worth $1,502,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in shares of DISH Network Corp during the first quarter worth about $883,000. Doyle Wealth Management bought a new position in DISH Network Corp during the first quarter valued at $8,056,000. Fox Run Management L.L.C. bought a new position in DISH Network Corp during the first quarter valued at $239,000. Capstone Asset Management Co. boosted its position in DISH Network Corp by 235.9% in the first quarter. Capstone Asset Management Co. now owns 16,247 shares of the company’s stock valued at $1,032,000 after buying an additional 11,410 shares during the period. Finally, Bank of Montreal Can boosted its position in DISH Network Corp by 7.9% in the first quarter. Bank of Montreal Can now owns 192,909 shares of the company’s stock valued at $12,247,000 after buying an additional 14,054 shares during the period. Hedge funds and other institutional investors own 47.98% of the company’s stock.
Shares of DISH Network Corp (NASDAQ:DISH) traded down 1.28% during mid-day trading on Tuesday, hitting $58.04. 5,658,495 shares of the stock were exchanged. The stock’s 50 day moving average price is $62.59 and its 200-day moving average price is $59.66. DISH Network Corp has a 12-month low of $43.86 and a 12-month high of $64.74. The stock has a market capitalization of $27.01 billion, a P/E ratio of 19.02 and a beta of 1.09.
DISH Network Corp (NASDAQ:DISH) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. DISH Network Corp had a net margin of 6.48% and a return on equity of 40.84%. The firm earned $3.72 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned ($0.27) EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that DISH Network Corp will post $2.77 EPS for the current fiscal year.
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Several research analysts have recently weighed in on DISH shares. Morgan Stanley upgraded shares of DISH Network Corp from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a report on Monday, January 23rd. They noted that the move was a valuation call. Citigroup Inc reiterated a “focus list” rating on shares of DISH Network Corp in a report on Wednesday, January 25th. Zacks Investment Research cut shares of DISH Network Corp from a “hold” rating to a “sell” rating in a report on Tuesday, January 31st. Barclays PLC reiterated an “equal weight” rating and issued a $62.00 price target (up previously from $59.00) on shares of DISH Network Corp in a report on Thursday, February 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $80.00 price target on shares of DISH Network Corp in a report on Friday, February 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.34.
In other DISH Network Corp news, Treasurer Kyle J. Kiser sold 32,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $61.90, for a total transaction of $2,011,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Warren Schlichting sold 8,878 shares of the firm’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $61.90, for a total transaction of $549,548.20. The disclosure for this sale can be found here. 49.40% of the stock is currently owned by company insiders.
About DISH Network Corp
DISH Network Corporation is a holding company. The Company operates through two segments: Pay-TV and Broadband, and Wireless. It offers pay-TV services under the DISH brand and the Sling brand (collectively Pay-TV services). The DISH branded pay-TV service consists of Federal Communications Commission (FCC) licenses authorizing it to use direct broadcast satellite and Fixed Satellite Service spectrum, its owned and leased satellites, receiver systems, third-party broadcast operations, customer service facilities, a leased fiber optic network, in-home service and call center operations, and certain other assets utilized in its operations.
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