Metropolitan Life Insurance Co NY Cuts Stock Holdings in DISH Network Corp (NASDAQ:DISH)

Metropolitan Life Insurance Co NY cut its holdings in DISH Network Corp (NASDAQ:DISH) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,285 shares of the company’s stock after selling 840 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in DISH Network were worth $1,023,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DISH. Investors Research Corp acquired a new stake in DISH Network in the first quarter valued at about $25,000. Wakefield Asset Management LLLP acquired a new stake in DISH Network in the fourth quarter valued at about $27,000. Acadian Asset Management LLC acquired a new stake in DISH Network in the fourth quarter valued at about $30,000. Global Retirement Partners LLC boosted its stake in DISH Network by 38.5% in the first quarter. Global Retirement Partners LLC now owns 1,051 shares of the company’s stock valued at $33,000 after buying an additional 292 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in DISH Network in the first quarter valued at about $36,000. 48.82% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Tom A. Ortolf acquired 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average cost of $34.87 per share, for a total transaction of $348,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $348,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 52.80% of the stock is owned by company insiders.

Shares of DISH traded down $0.02 during mid-day trading on Thursday, reaching $40.83. 1,679,795 shares of the company were exchanged, compared to its average volume of 2,735,590. DISH Network Corp has a 52 week low of $23.22 and a 52 week high of $42.10. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market capitalization of $19.16 billion, a PE ratio of 13.61 and a beta of 1.42. The stock has a 50 day simple moving average of $38.61.

DISH Network (NASDAQ:DISH) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.65. DISH Network had a return on equity of 18.42% and a net margin of 11.59%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the company earned $0.70 earnings per share. The firm’s revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that DISH Network Corp will post 2.45 EPS for the current fiscal year.

Several analysts recently weighed in on DISH shares. BidaskClub upgraded Westport Fuel Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Credit Suisse Group set a €50.00 ($58.14) target price on Fresenius SE & Co KGaA and gave the company a “neutral” rating in a research report on Monday, May 6th. Finally, Pivotal Research reiterated a “hold” rating and issued a $33.00 target price (down from $37.00) on shares of DISH Network in a research report on Monday, May 20th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $37.62.

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.

Further Reading: Management Fee

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

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