King Luther Capital Management Corp Sells 29,014 Shares of DISH Network Corp (DISH)
King Luther Capital Management Corp reduced its position in DISH Network Corp (NASDAQ:DISH) by 12.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,358 shares of the company’s stock after selling 29,014 shares during the quarter. King Luther Capital Management Corp’s holdings in DISH Network were worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Exane Derivatives increased its position in DISH Network by 112.8% in the second quarter. Exane Derivatives now owns 20,273 shares of the company’s stock worth $681,000 after buying an additional 10,748 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in DISH Network by 1.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,250,000 shares of the company’s stock worth $42,013,000 after buying an additional 20,000 shares during the last quarter. Verition Fund Management LLC increased its position in DISH Network by 10.1% in the first quarter. Verition Fund Management LLC now owns 48,813 shares of the company’s stock worth $1,850,000 after buying an additional 4,458 shares during the last quarter. Trexquant Investment LP increased its position in DISH Network by 140.2% in the second quarter. Trexquant Investment LP now owns 131,950 shares of the company’s stock worth $4,435,000 after buying an additional 77,026 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in DISH Network by 3.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,407,967 shares of the company’s stock worth $114,542,000 after buying an additional 112,586 shares during the last quarter. 48.27% of the stock is owned by institutional investors and hedge funds.
DISH has been the subject of a number of recent research reports. BidaskClub downgraded DISH Network from a “sell” rating to a “strong sell” rating in a research report on Friday, July 27th. Zacks Investment Research raised DISH Network from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, August 29th. Credit Suisse Group assumed coverage on DISH Network in a research report on Tuesday, July 10th. They issued an “underperform” rating and a $30.00 target price for the company. Goldman Sachs Group reaffirmed a “neutral” rating on shares of DISH Network in a report on Thursday, June 28th. Finally, Morgan Stanley cut their price target on DISH Network from $45.00 to $36.00 and set an “equal weight” rating for the company in a report on Tuesday, May 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $50.88.
NASDAQ:DISH opened at $35.29 on Friday. The firm has a market cap of $16.14 billion, a P/E ratio of 13.89 and a beta of 1.20. DISH Network Corp has a 52-week low of $28.80 and a 52-week high of $55.90. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.76 and a quick ratio of 0.66.
DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Friday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.44 billion. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. equities research analysts anticipate that DISH Network Corp will post 2.77 EPS for the current year.
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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