PNC Financial Services Group Inc. lowered its stake in shares of DISH Network Co. (NASDAQ:DISH – Get Rating) by 20.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,509 shares of the company’s stock after selling 56,654 shares during the period. PNC Financial Services Group Inc.’s holdings in DISH Network were worth $6,852,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in DISH Network in the 1st quarter valued at $30,000. Rosenberg Matthew Hamilton acquired a new position in DISH Network in the first quarter valued at $61,000. Pinebridge Investments L.P. purchased a new position in DISH Network during the fourth quarter worth about $64,000. CKW Financial Group boosted its stake in DISH Network by 61.5% in the 1st quarter. CKW Financial Group now owns 2,100 shares of the company’s stock worth $68,000 after buying an additional 800 shares during the last quarter. Finally, CWM LLC grew its holdings in DISH Network by 263.6% in the 1st quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $86,000 after buying an additional 1,972 shares during the period. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Insider Activity at DISH Network
In other news, Director James Defranco acquired 163,637 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $18.11 per share, with a total value of $2,963,466.07. Following the transaction, the director now directly owns 713,937 shares in the company, valued at approximately $12,929,399.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 343,585 shares of company stock valued at $6,200,060. Corporate insiders own 53.30% of the company’s stock.
Wall Street Analysts Forecast Growth
DISH Network Stock Down 4.5 %
Shares of NASDAQ:DISH opened at $17.01 on Friday. The company has a 50 day moving average of $18.23 and a two-hundred day moving average of $23.98. DISH Network Co. has a 52-week low of $16.20 and a 52-week high of $46.31. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 5.23, a price-to-earnings-growth ratio of 1.14 and a beta of 1.85.
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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