DISH Network (DISH) Bonds Trading 0.9% Lower

An issue of DISH Network Corp (NASDAQ:DISH) bonds fell 0.9% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 7.75% coupon and will mature on July 1, 2026. The bonds in the issue are now trading at $88.63 and were trading at $92.25 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

A number of equities research analysts have recently commented on DISH shares. SunTrust Banks lowered their target price on DISH Network to $44.00 and set a “hold” rating on the stock in a research note on Thursday, March 1st. Moffett Nathanson upgraded DISH Network from a “sell” rating to a “neutral” rating and set a $37.00 target price on the stock in a research note on Friday, March 23rd. They noted that the move was a valuation call. Cowen set a $54.00 target price on DISH Network and gave the stock a “buy” rating in a research note on Monday, March 26th. ValuEngine cut DISH Network from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, Barclays lowered their target price 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. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $55.42.

Shares of NASDAQ DISH opened at $33.60 on Friday. DISH Network Corp has a 12 month low of $28.80 and a 12 month high of $66.50. The company has a quick ratio of 0.66, a current ratio of 0.74 and a debt-to-equity ratio of 2.07. The stock has a market cap of $15.71 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of -6.51 and a beta of 1.11.

DISH Network (NASDAQ:DISH) last issued its quarterly earnings data 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 return on equity of 20.48% and a net margin of 14.75%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. sell-side analysts anticipate that DISH Network Corp will post 2.58 EPS for the current year.

In other news, EVP Jeffrey L. Mcschooler sold 739 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $37.66, for a total transaction of $27,830.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles W. Ergen bought 100,000 shares of the company’s stock in a transaction that occurred on Thursday, May 31st. The stock was purchased at an average price of $29.37 per share, with a total value of $2,937,000.00. Following the transaction, the chairman now directly owns 696,470 shares in the company, valued at $20,455,323.90. The disclosure for this purchase can be found here. In the last three months, insiders have bought 115,000 shares of company stock valued at $3,389,450 and have sold 1,190 shares valued at $44,907. 49.20% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC lifted its position in DISH Network by 12.4% in the 4th quarter. Meadow Creek Investment Management LLC now owns 13,748 shares of the company’s stock worth $657,000 after buying an additional 1,512 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in DISH Network in the 4th quarter worth approximately $677,000. Leucadia National Corp bought a new stake in DISH Network in the 4th quarter worth approximately $467,000. MetLife Investment Advisors LLC bought a new stake in DISH Network in the 4th quarter worth approximately $3,367,000. Finally, American International Group Inc. lifted its position in DISH Network by 6.3% in the fourth quarter. American International Group Inc. now owns 91,223 shares of the company’s stock valued at $4,356,000 after purchasing an additional 5,399 shares during the last quarter. Institutional investors own 47.87% 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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