Teacher Retirement System of Texas grew its holdings in Dish Network (NASDAQ:DISH) by 75.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 111,215 shares of the company’s stock after acquiring an additional 47,935 shares during the quarter. Teacher Retirement System of Texas’ holdings in Dish Network were worth $4,214,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Norinchukin Bank The boosted its stake in shares of Dish Network by 7.5% in the fourth quarter. Norinchukin Bank The now owns 18,223 shares of the company’s stock worth $870,000 after acquiring an additional 1,276 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of Dish Network by 7.0% in the fourth quarter. Profund Advisors LLC now owns 19,658 shares of the company’s stock worth $939,000 after acquiring an additional 1,283 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Dish Network by 86.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 2,800 shares of the company’s stock worth $133,000 after acquiring an additional 1,300 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Dish Network by 3.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 44,180 shares of the company’s stock worth $2,110,000 after acquiring an additional 1,406 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Dish Network by 12.4% in the fourth quarter. Meadow Creek Investment Management LLC now owns 13,748 shares of the company’s stock worth $657,000 after acquiring an additional 1,512 shares during the last quarter. 48.11% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Dish Network stock opened at $30.71 on Friday. Dish Network has a 52 week low of $28.93 and a 52 week high of $66.50. The firm has a market capitalization of $14.25 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of -6.04 and a beta of 1.14. The company has a current ratio of 0.74, a quick ratio of 0.66 and a debt-to-equity ratio of 2.07.
Dish Network (NASDAQ:DISH) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.02). Dish Network had a net margin of 14.75% and a return on equity of 20.48%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the company earned $0.76 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. equities analysts forecast that Dish Network will post 2.52 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Dish Network from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, April 16th. Zacks Investment Research lowered Dish Network from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. ValuEngine lowered Dish Network from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Pivotal Research reissued a “buy” rating and set a $65.00 price objective (down previously from $67.00) on shares of Dish Network in a research note on Thursday, February 22nd. Finally, Moffett Nathanson raised Dish Network from a “sell” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research note on Friday, March 23rd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.75.
In other news, EVP Vivek Khemka sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $39.03, for a total value of $234,180.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey L. Mcschooler sold 739 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $37.66, for a total value of $27,830.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,190 shares of company stock worth $279,087. Corporate insiders own 49.20% of the company’s stock.
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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