Key Square Capital Management LLC Reduces Stock Holdings in DISH Network Corp (NASDAQ:DISH)

Key Square Capital Management LLC cut its stake in DISH Network Corp (NASDAQ:DISH) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,920,548 shares of the company’s stock after selling 90,871 shares during the quarter. DISH Network comprises about 40.8% of Key Square Capital Management LLC’s portfolio, making the stock its biggest position. Key Square Capital Management LLC owned approximately 0.62% of DISH Network worth $112,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in DISH Network by 4.1% in the second quarter. Envestnet Asset Management Inc. now owns 45,933 shares of the company’s stock valued at $1,764,000 after acquiring an additional 1,822 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of DISH Network by 24.9% in the 1st quarter. Toronto Dominion Bank now owns 192,253 shares of the company’s stock worth $6,090,000 after purchasing an additional 38,389 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in DISH Network by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 34,387 shares of the company’s stock worth $1,321,000 after buying an additional 1,443 shares during the last quarter. Highstreet Asset Management Inc. grew its stake in DISH Network by 17.3% during the 1st quarter. Highstreet Asset Management Inc. now owns 28,936 shares of the company’s stock worth $917,000 after buying an additional 4,272 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in DISH Network by 4.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 19,934 shares of the company’s stock valued at $632,000 after buying an additional 879 shares in the last quarter. Institutional investors and hedge funds own 48.09% of the company’s stock.

In related news, Chairman Charles W. Ergen acquired 300,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $31.70 per share, with a total value of $9,510,158.50. Following the acquisition, the chairman now directly owns 1,656,075 shares in the company, valued at approximately $52,497,577.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Defranco bought 300,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $31.18 per share, for a total transaction of $9,354,000.00. Following the purchase, the insider now directly owns 1,528,529 shares of the company’s stock, valued at $47,659,534.22. The disclosure for this purchase can be found here. Insiders bought 700,005 shares of company stock worth $21,958,159 in the last quarter. Company insiders own 52.80% of the company’s stock.

A number of research firms have commented on DISH. Raymond James upgraded DISH Network from a “market perform” rating to a “strong-buy” rating and set a $44.00 price target for the company in a research note on Monday, August 26th. BidaskClub raised shares of DISH Network from a “hold” rating to a “buy” rating in a research report on Wednesday. Moffett Nathanson downgraded shares of DISH Network from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a research report on Thursday, July 25th. Barclays lowered shares of DISH Network from an “equal weight” rating to an “underweight” rating and set a $31.00 price target on the stock. in a research note on Monday, July 29th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $33.00 price target (down previously from $37.00) on shares of DISH Network in a report on Monday, May 20th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.46.

NASDAQ:DISH traded down $0.52 during midday trading on Wednesday, hitting $36.63. The company’s stock had a trading volume of 2,855,164 shares, compared to its average volume of 1,980,642. DISH Network Corp has a fifty-two week low of $23.22 and a fifty-two week high of $44.65. The firm’s 50 day moving average is $33.96 and its 200-day moving average is $35.05. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.63 and a quick ratio of 0.58. The firm has a market cap of $17.06 billion, a P/E ratio of 12.21 and a beta of 1.39.

DISH Network (NASDAQ:DISH) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.05). The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.14 billion. DISH Network had a net margin of 10.88% and a return on equity of 16.24%. The business’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, analysts forecast that DISH Network Corp will post 2.5 EPS for the current year.

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

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