State Board of Administration of Florida Retirement System Trims Stake in DISH Network Corp (DISH)

State Board of Administration of Florida Retirement System cut its holdings in DISH Network Corp (NASDAQ:DISH) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 294,639 shares of the company’s stock after selling 1,240 shares during the period. State Board of Administration of Florida Retirement System’s holdings in DISH Network were worth $9,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Worldquant Millennium Quantitative Strategies LLC boosted its holdings in DISH Network by 98.7% in the 4th quarter. Worldquant Millennium Quantitative Strategies LLC now owns 1,091,220 shares of the company’s stock worth $27,248,000 after buying an additional 542,000 shares during the period. Quantamental Technologies LLC purchased a new stake in DISH Network in the 4th quarter worth approximately $160,000. Oppenheimer & Co. Inc. lifted its stake in DISH Network by 8.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 12,566 shares of the company’s stock worth $314,000 after purchasing an additional 1,000 shares in the last quarter. Loews Corp lifted its stake in DISH Network by 23.8% in the 4th quarter. Loews Corp now owns 10,000 shares of the company’s stock worth $250,000 after purchasing an additional 1,921 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in DISH Network in the 4th quarter worth approximately $288,000. 48.64% of the stock is owned by institutional investors.

Shares of DISH Network stock traded down $3.82 on Monday, hitting $31.51. 91,785 shares of the company traded hands, compared to its average volume of 2,153,292. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market cap of $16.58 billion, a P/E ratio of 10.49 and a beta of 1.61. DISH Network Corp has a 12-month low of $23.22 and a 12-month high of $37.47.

DISH Network (NASDAQ:DISH) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.65 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.65. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.19 billion. DISH Network had a net margin of 11.59% and a return on equity of 18.42%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. On average, analysts predict that DISH Network Corp will post 2.44 earnings per share for the current year.

Several analysts have issued reports on the stock. BidaskClub cut shares of DISH Network from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Credit Suisse Group upgraded shares of DISH Network from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $34.00 in a research note on Monday, May 6th. Royal Bank of Canada lowered their target price on shares of DISH Network to $33.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 19th. SunTrust Banks lowered their target price on shares of DISH Network to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 14th. Finally, Barclays cut shares of DISH Network from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research note on Thursday, February 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. DISH Network presently has an average rating of “Hold” and an average target price of $38.00.

In related news, insider James Defranco acquired 10,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were purchased at an average price of $30.67 per share, for a total transaction of $306,700.00. Following the transaction, the insider now owns 1,528,529 shares in the company, valued at approximately $46,879,984.43. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 52.80% of the company’s stock.

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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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