DAVENPORT & Co LLC Raises Stock Holdings in DISH Network Co. (NASDAQ:DISH)

DAVENPORT & Co LLC grew its holdings in shares of DISH Network Co. (NASDAQ:DISH) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,515,531 shares of the company’s stock after purchasing an additional 16,894 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.48% of DISH Network worth $73,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DISH. Polianta Ltd purchased a new position in DISH Network during the third quarter valued at approximately $1,158,000. Thompson Siegel & Walmsley LLC purchased a new position in DISH Network in the 2nd quarter valued at approximately $65,846,000. CIBC Asset Management Inc purchased a new position in DISH Network in the 2nd quarter valued at approximately $1,039,000. Nisa Investment Advisors LLC purchased a new position in DISH Network during the second quarter worth $1,325,000. Finally, Swiss National Bank purchased a new position in DISH Network during the second quarter worth $33,018,000. 43.74% of the stock is owned by hedge funds and other institutional investors.

DISH stock traded up $0.02 during midday trading on Friday, reaching $27.66. The company’s stock had a trading volume of 1,629,722 shares, compared to its average volume of 3,236,131. The business’s 50-day simple moving average is $30.88 and its 200-day simple moving average is $30.07. The stock has a market cap of $14.53 billion, a PE ratio of 12.24 and a beta of 1.79. DISH Network Co. has a 52 week low of $17.09 and a 52 week high of $42.62. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

DISH Network (NASDAQ:DISH) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.10 billion. DISH Network had a net margin of 9.90% and a return on equity of 11.14%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, equities analysts forecast that DISH Network Co. will post 2.25 earnings per share for the current fiscal year.

In other DISH Network news, EVP Thomas A. Cullen sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $32.87, for a total value of $1,413,410.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 258,000 shares of company stock valued at $7,903,830. Corporate insiders own 53.50% of the company’s stock.

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on DISH Network from $35.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. assumed coverage on DISH Network in a research note on Thursday, July 16th. They issued a “neutral” rating and a $35.00 target price for the company. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Thursday, August 13th. Pivotal Research restated a “buy” rating and issued a $41.00 target price on shares of DISH Network in a research report on Friday, August 7th. Finally, Raymond James upped their target price on DISH Network from $48.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. DISH Network presently has a consensus rating of “Hold” and a consensus price target of $37.92.

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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Institutional Ownership by Quarter for DISH Network (NASDAQ:DISH)

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