Short Interest in DISH Network Corp (NASDAQ:DISH) Rises By 19.4%

DISH Network Corp (NASDAQ:DISH) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 16,875,100 shares, a growth of 19.4% from the June 30th total of 14,134,700 shares. Based on an average daily volume of 3,060,000 shares, the short-interest ratio is presently 5.5 days. Approximately 7.6% of the company’s stock are short sold.

DISH traded up $0.16 during midday trading on Thursday, reaching $31.87. The company had a trading volume of 90,034 shares, compared to its average volume of 3,863,511. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $15.09 billion, a PE ratio of 10.61 and a beta of 1.40. DISH Network has a 12-month low of $23.22 and a 12-month high of $44.65. The business’s 50-day moving average price is $37.68.

DISH Network (NASDAQ:DISH) last released its earnings results on Monday, July 29th. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.05). The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Analysts anticipate that DISH Network will post 2.45 EPS for the current year.



In other news, Chairman Charles W. Ergen acquired 100,000 shares of DISH Network stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $30.94 per share, with a total value of $3,094,000.00. Following the transaction, the chairman now owns 1,656,075 shares of the company’s stock, valued at approximately $51,238,960.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tom A. Ortolf acquired 10,000 shares of DISH Network stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average cost of $34.87 per share, with a total value of $348,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $348,700. The disclosure for this purchase can be found here. Insiders acquired a total of 410,005 shares of company stock valued at $12,952,859 over the last ninety days. 52.80% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in DISH. Investors Research Corp purchased a new stake in shares of DISH Network during the 1st quarter valued at approximately $25,000. Doyle Wealth Management bought a new stake in DISH Network during the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC increased its holdings in DISH Network by 38.5% during the 1st quarter. Global Retirement Partners LLC now owns 1,051 shares of the company’s stock worth $33,000 after acquiring an additional 292 shares during the period. Bessemer Group Inc. increased its holdings in DISH Network by 50.3% during the 2nd quarter. Bessemer Group Inc. now owns 1,279 shares of the company’s stock worth $49,000 after acquiring an additional 428 shares during the period. Finally, Trust Co. of Vermont increased its holdings in DISH Network by 4,000.0% during the 2nd quarter. Trust Co. of Vermont now owns 2,460 shares of the company’s stock worth $85,000 after acquiring an additional 2,400 shares during the period. Institutional investors own 48.64% of the company’s stock.

A number of brokerages have issued reports on DISH. BidaskClub downgraded shares of DISH Network from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays downgraded shares of DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 price objective for the company. in a research report on Monday, July 29th. Pivotal Research reaffirmed a “hold” rating and issued a $33.00 price objective (down from $37.00) on shares of DISH Network in a research report on Monday, May 20th. ValuEngine downgraded shares of DISH Network from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, Moffett Nathanson cut shares of DISH Network from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $35.83.

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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