Insider Selling: DISH Network Corporation (DISH) CEO Sells 25,000 Shares of Stock
DISH Network Corporation (NASDAQ:DISH) CEO Roger Lynch sold 25,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $59.73, for a total value of $1,493,250.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of DISH Network Corporation (NASDAQ:DISH) traded up 0.05% on Wednesday, reaching $59.74. The company’s stock had a trading volume of 1,376,862 shares. The firm has a 50 day moving average price of $64.33 and a 200-day moving average price of $62.83. The stock has a market cap of $27.83 billion, a PE ratio of 20.18 and a beta of 0.96. DISH Network Corporation has a 12-month low of $48.51 and a 12-month high of $66.50.
DISH Network Corporation (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by $0.67. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.71 billion. DISH Network Corporation had a net margin of 7.21% and a return on equity of 27.88%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. Equities research analysts expect that DISH Network Corporation will post $2.46 EPS for the current year.
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DISH has been the topic of several recent analyst reports. Macquarie cut DISH Network Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $61.00 in a research report on Tuesday, April 18th. Deutsche Bank AG dropped their price objective on DISH Network Corporation from $103.00 to $102.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. BidaskClub cut DISH Network Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $88.50 price objective on shares of DISH Network Corporation in a research report on Tuesday, May 2nd. Finally, Citigroup Inc. cut DISH Network Corporation from a “buy” rating to a “sell” rating and dropped their price objective for the company from $94.00 to $52.00 in a research report on Wednesday, July 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $70.31.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC purchased a new position in shares of DISH Network Corporation during the first quarter worth $110,000. Bronfman E.L. Rothschild L.P. raised its position in shares of DISH Network Corporation by 3,872.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,907 shares of the company’s stock worth $121,000 after buying an additional 1,859 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new position in shares of DISH Network Corporation during the first quarter worth $141,000. Huntington National Bank raised its position in shares of DISH Network Corporation by 0.8% in the first quarter. Huntington National Bank now owns 2,319 shares of the company’s stock worth $147,000 after buying an additional 19 shares in the last quarter. Finally, First Manhattan Co. raised its position in shares of DISH Network Corporation by 35.0% in the first quarter. First Manhattan Co. now owns 2,700 shares of the company’s stock worth $147,000 after buying an additional 700 shares in the last quarter. 49.99% of the stock is currently owned by institutional investors and hedge funds.
DISH Network Corporation Company Profile
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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