Gateway Investment Advisers LLC lowered its position in DISH Network Corp (NASDAQ:DISH) by 27.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 34,103 shares of the company’s stock after selling 12,921 shares during the quarter. Gateway Investment Advisers LLC’s holdings in DISH Network were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wakefield Asset Management LLLP bought a new stake in shares of DISH Network in the fourth quarter worth $27,000. Acadian Asset Management LLC purchased a new position in DISH Network during the fourth quarter valued at $30,000. CENTRAL TRUST Co purchased a new position in DISH Network during the fourth quarter valued at $53,000. Penserra Capital Management LLC purchased a new position in DISH Network during the fourth quarter valued at $70,000. Finally, Bessemer Group Inc. lifted its position in DISH Network by 23.1% during the fourth quarter. Bessemer Group Inc. now owns 2,950 shares of the company’s stock valued at $73,000 after purchasing an additional 554 shares in the last quarter. 48.21% of the stock is owned by institutional investors.
In other DISH Network news, EVP James Defranco acquired 15,000 shares of the stock in a transaction dated Monday, January 28th. The shares were acquired at an average cost of $29.60 per share, for a total transaction of $444,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,488,529 shares of the company’s stock, valued at $44,060,458.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought 75,000 shares of company stock worth $2,240,500 over the last 90 days. Company insiders own 52.80% of the company’s stock.
DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, February 13th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.03). DISH Network had a net margin of 11.56% and a return on equity of 19.71%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. DISH Network’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts anticipate that DISH Network Corp will post 2.53 EPS for the current fiscal year.
Several equities analysts recently weighed in on DISH shares. Citigroup lowered their target price on DISH Network from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. BidaskClub downgraded DISH Network from a “hold” rating to a “sell” rating in a research report on Tuesday, December 25th. Moffett Nathanson upgraded DISH Network from a “sell” rating to a “neutral” rating in a research report on Thursday, January 3rd. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, January 10th. Finally, HSBC downgraded DISH Network from a “hold” rating to a “reduce” rating in a research report on Friday, January 25th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. DISH Network presently has an average rating of “Hold” and a consensus target price of $37.71.
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DISH Network Company Profile
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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