Short Interest in DISH Network Corp (NASDAQ:DISH) Decreases By 10.8%

DISH Network Corp (NASDAQ:DISH) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 13,891,300 shares, a drop of 10.8% from the May 30th total of 15,572,300 shares. Currently, 6.3% of the company’s shares are sold short. Based on an average daily volume of 2,570,000 shares, the short-interest ratio is currently 5.4 days.

Several equities research analysts recently commented on DISH shares. Pivotal Research reaffirmed a “hold” rating and set a $33.00 target price (down previously from $37.00) on shares of DISH Network in a research note on Monday, May 20th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday. Finally, Credit Suisse Group set a €50.00 ($58.14) price target on Fresenius SE & Co KGaA and gave the stock a “neutral” rating in a report on Monday, May 6th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.62.

NASDAQ:DISH traded up $1.05 on Friday, hitting $41.87. The stock had a trading volume of 1,528,513 shares, compared to its average volume of 2,678,740. The company’s fifty day moving average price is $37.79. The company has a market cap of $19.64 billion, a P/E ratio of 13.96 and a beta of 1.42. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.66 and a current ratio of 0.72. DISH Network has a 52 week low of $23.22 and a 52 week high of $41.97.

DISH Network (NASDAQ:DISH) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.65. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.19 billion. DISH Network had a return on equity of 18.42% and a net margin of 11.59%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. As a group, analysts anticipate that DISH Network will post 2.45 EPS for the current year.

In other DISH Network news, Director Tom A. Ortolf bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $34.87 per share, with a total value of $348,700.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $348,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 52.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of DISH. Acadian Asset Management LLC bought a new position in shares of DISH Network in the fourth quarter valued at approximately $30,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of DISH Network by 19.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 78,741 shares of the company’s stock valued at $1,966,000 after purchasing an additional 12,582 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of DISH Network by 3.4% in the fourth quarter. Northern Trust Corp now owns 2,650,008 shares of the company’s stock valued at $66,170,000 after purchasing an additional 88,006 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of DISH Network by 0.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 144,780 shares of the company’s stock valued at $3,435,000 after purchasing an additional 506 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of DISH Network by 10.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 40,204 shares of the company’s stock valued at $1,004,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors own 48.83% 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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