Texas Permanent School Fund Decreases Stake in DISH Network Corp (DISH)

Texas Permanent School Fund lessened its position in DISH Network Corp (NASDAQ:DISH) by 8.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 51,426 shares of the company’s stock after selling 4,444 shares during the quarter. Texas Permanent School Fund’s holdings in DISH Network were worth $1,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DISH. Key Square Capital Management LLC purchased a new position in shares of DISH Network in the second quarter valued at approximately $71,822,000. BlueMountain Capital Management LLC purchased a new position in shares of DISH Network in the second quarter valued at approximately $32,423,000. First Trust Advisors LP lifted its position in shares of DISH Network by 286.6% in the second quarter. First Trust Advisors LP now owns 803,108 shares of the company’s stock valued at $26,992,000 after acquiring an additional 595,347 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of DISH Network in the second quarter valued at approximately $12,173,000. Finally, Toronto Dominion Bank lifted its position in shares of DISH Network by 242.8% in the second quarter. Toronto Dominion Bank now owns 421,397 shares of the company’s stock valued at $14,163,000 after acquiring an additional 298,465 shares in the last quarter. Institutional investors and hedge funds own 48.25% of the company’s stock.

In related news, EVP James Defranco acquired 5,000 shares of DISH Network stock in a transaction that occurred on Friday, October 5th. The shares were 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 owns 1,208,529 shares in the company, valued at approximately $42,286,429.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have purchased 105,000 shares of company stock worth $3,370,450. 49.20% of the stock is currently owned by company insiders.

DISH has been the topic of several research reports. Zacks Investment Research upgraded DISH Network from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Wednesday, August 29th. Pivotal Research restated a “buy” rating and issued a $40.00 target price on shares of DISH Network in a research report on Monday, August 6th. Cowen restated a “buy” rating and issued a $60.00 target price on shares of DISH Network in a research report on Monday, August 6th. Guggenheim upgraded DISH Network from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $50.00 in a research report on Wednesday, October 24th. Finally, Morgan Stanley raised their target price on DISH Network from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $42.79.

Shares of DISH Network stock opened at $32.12 on Thursday. DISH Network Corp has a one year low of $27.54 and a one year high of $52.53. The company has a market cap of $14.72 billion, a P/E ratio of 12.65 and a beta of 1.25. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 1.94.

DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.15. DISH Network had a return on equity of 20.60% and a net margin of 17.80%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts predict that DISH Network Corp will post 2.79 earnings per share for the current year.

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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.

See Also: Diversification

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

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