Cibc World Markets Corp Makes New Investment in DISH Network Co. (NASDAQ:DISH)

Cibc World Markets Corp purchased a new position in shares of DISH Network Co. (NASDAQ:DISH – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,550 shares of the company’s stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in DISH Network by 5.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,787 shares of the company’s stock worth $418,000 after purchasing an additional 1,661 shares during the period. First Trust Advisors LP grew its position in shares of DISH Network by 24.2% during the 4th quarter. First Trust Advisors LP now owns 368,106 shares of the company’s stock valued at $5,168,000 after acquiring an additional 71,818 shares during the period. Treasurer of the State of North Carolina boosted its holdings in DISH Network by 1.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 108,755 shares of the company’s stock worth $1,527,000 after buying an additional 1,380 shares during the last quarter. Prudential PLC boosted its holdings in DISH Network by 106.0% in the 4th quarter. Prudential PLC now owns 22,742 shares of the company’s stock worth $319,000 after buying an additional 11,702 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in DISH Network by 42.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,957,063 shares of the company’s stock worth $55,557,000 after buying an additional 1,179,775 shares during the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

DISH Network Stock Performance

NASDAQ:DISH opened at $6.70 on Monday. The company has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $12.08. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 2.04 and a beta of 1.79. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. DISH Network Co. has a 52 week low of $5.94 and a 52 week high of $23.49.

DISH Network (NASDAQ:DISH – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.06 billion. DISH Network had a return on equity of 12.02% and a net margin of 12.84%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. As a group, equities analysts anticipate that DISH Network Co. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

DISH has been the topic of several research analyst reports. Royal Bank of Canada lowered their price objective on DISH Network from $20.00 to $15.00 and set a “sector perform” rating on the stock in a report on Monday, February 27th. UBS Group cut DISH Network from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $27.00 to $10.00 in a report on Monday, March 27th. Pivotal Research lowered their price objective on DISH Network from $33.00 to $20.00 in a report on Tuesday, May 9th. Raymond James decreased their target price on shares of DISH Network from $28.00 to $27.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 24th. Finally, Barclays decreased their target price on shares of DISH Network from $14.00 to $10.00 in a research note on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.86.

Insiders Place Their Bets

In other DISH Network news, Director James Defranco purchased 2,000,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $6.22 per share, for a total transaction of $12,440,000.00. Following the completion of the purchase, the director now directly owns 4,767,658 shares in the company, valued at approximately $29,654,832.76. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 4,100,000 shares of company stock worth $35,317,000 over the last 90 days. Corporate insiders own 55.50% of the company’s stock.

About DISH Network

(Get Rating)

DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through the Pay-TV and Wireless segments. The Pay-TV segment operates under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles William Ergen, Cantey M.