Macquarie cut shares of DISH Network (NASDAQ:DISH) from a neutral rating to an underperform rating in a report issued on Tuesday morning, Marketbeat Ratings reports. Macquarie currently has $31.00 price objective on the stock, down from their prior price objective of $36.00.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research raised DISH Network from a hold rating to a strong-buy rating and set a $42.00 price target on the stock in a report on Monday, September 17th. Morgan Stanley raised their price target on DISH Network from $36.00 to $39.00 and gave the company an equal weight rating in a report on Friday, September 7th. BidaskClub cut DISH Network from a hold rating to a sell rating in a report on Saturday, August 18th. Moffett Nathanson cut DISH Network from a neutral rating to a sell rating and set a $29.00 price target on the stock. in a report on Monday, August 13th. Finally, Pivotal Research reissued a buy rating and set a $40.00 price target on shares of DISH Network in a report on Monday, August 6th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $43.00.
NASDAQ:DISH traded down $1.89 on Tuesday, reaching $28.36. 440,239 shares of the company’s stock traded hands, compared to its average volume of 2,892,156. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 1.94. The stock has a market cap of $16.20 billion, a PE ratio of 11.19 and a beta of 1.21. DISH Network has a 12 month low of $28.80 and a 12 month high of $52.53.
In other news, EVP James Defranco acquired 5,000 shares of the business’s stock in a transaction dated Friday, October 5th. The stock was purchased at an average price of $34.99 per share, for a total transaction of $174,950.00. Following the completion of the transaction, the executive vice president now directly owns 1,208,529 shares in the company, valued at approximately $42,286,429.71. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have bought 70,000 shares of company stock valued at $2,338,100. Company insiders own 49.20% of the company’s stock.
Several institutional investors have recently modified their holdings of DISH. Key Square Capital Management LLC purchased a new position in shares of DISH Network during the second quarter valued at about $71,822,000. BlueMountain Capital Management LLC purchased a new position in shares of DISH Network during the second quarter valued at about $32,423,000. First Trust Advisors LP grew its position in shares of DISH Network by 286.6% during the second quarter. First Trust Advisors LP now owns 803,108 shares of the company’s stock valued at $26,992,000 after purchasing an additional 595,347 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of DISH Network during the second quarter valued at about $12,173,000. Finally, Toronto Dominion Bank grew its position in shares of DISH Network by 242.8% during the second quarter. Toronto Dominion Bank now owns 421,397 shares of the company’s stock valued at $14,163,000 after purchasing an additional 298,465 shares in the last quarter. Hedge funds and other institutional investors own 48.22% of the company’s stock.
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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