Panagora Asset Management Inc. reduced its holdings in DISH Network Co. (NASDAQ:DISH – Get Rating) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,187 shares of the company’s stock after selling 5,292 shares during the quarter. Panagora Asset Management Inc.’s holdings in DISH Network were worth $1,174,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of DISH Network by 12.6% in the third quarter. Wellington Management Group LLP now owns 3,902,832 shares of the company’s stock worth $169,617,000 after buying an additional 437,611 shares during the period. Dimensional Fund Advisors LP lifted its holdings in DISH Network by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,790,882 shares of the company’s stock worth $121,312,000 after buying an additional 115,532 shares during the last quarter. Ovata Capital Management Ltd raised its position in shares of DISH Network by 66.7% during the 3rd quarter. Ovata Capital Management Ltd now owns 2,500,000 shares of the company’s stock worth $2,607,000 after purchasing an additional 1,000,000 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of DISH Network by 33.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,086,722 shares of the company’s stock worth $67,693,000 after purchasing an additional 524,295 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of DISH Network by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,041,958 shares of the company’s stock worth $88,744,000 after purchasing an additional 19,549 shares during the period. Hedge funds and other institutional investors own 46.90% of the company’s stock.
In other DISH Network news, Director James Defranco bought 400,000 shares of the stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $19.27 per share, with a total value of $7,708,000.00. Following the completion of the acquisition, the director now owns 1,661,428 shares of the company’s stock, valued at $32,015,717.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 53.30% of the stock is owned by corporate insiders.
DISH Network (NASDAQ:DISH – Get Rating) last posted its quarterly earnings data on Friday, May 6th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.39 billion. DISH Network had a return on equity of 14.81% and a net margin of 12.49%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share. Equities research analysts forecast that DISH Network Co. will post 2.55 EPS for the current year.
Several analysts recently commented on the company. Barclays lowered their target price on DISH Network from $28.00 to $25.00 in a research report on Wednesday, May 11th. Truist Financial reduced their price objective on DISH Network from $32.00 to $25.00 in a research note on Wednesday, May 11th. UBS Group raised DISH Network from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, March 8th. Raymond James decreased their target price on DISH Network from $49.00 to $42.00 in a research report on Monday, May 9th. Finally, Pivotal Research decreased their target price on DISH Network from $50.00 to $40.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.17.
DISH Network Company Profile (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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