Top 5 Stocks to Invest in According to Alan Fournier’s Pennant Capital

1. DISH Network Corporation (NASDAQ:DISH)

Mr. Fournier’s Stake Value: $64.8 million

Percentage of  Pennant Capital’s 13F Portfolio: 18.39%

Number of Hedge Fund Holders: 51

DISH Network Corporation (NASDAQ:DISH) is an American pay-for-television services provider. It is an iconic brand that is known for its satellite dishes that beam down entertainment to users’ locations from space.

Mr. Fournier’s Pennant Capital held 1.4 million DISH Network Corporation (NASDAQ:DISH) shares by the end of Q3 this year. These were worth $64.8 million and represented 18.39% of Pennant Capital’s portfolio. Additionally, 51 of the 873 hedge funds polled by Insider Monkey during the second quarter held a stake in DISH Network Corporation (NASDAQ:DISH).

In a November 2021 analyst note, Deutsche Bank lowered DISH Network Corporation (NASDAQ:DISH)’s price target to $71, outlining the company’s assumed $4 billion spectrum purchase as the reason. DISH Network Corporation (NASDAQ:DISH) reported $4.4 billion in revenue and $0.88 in GAAP EPS for its third quarter, beating analyst estimates for none.

DISH Network Corporation (NASDAQ:DISH)’s largest stakeholder is Boykin Curry’s Eagle Capital Management, which owns 18 million shares that are worth $799 million.

In its second quarter 2021 investor letter, ClearBridge Investments had the following to say about DISH Network Corporation (NASDAQ:DISH):

“Portfolio holdings in the communication services and financials sectors also made strong contributions. Dish Network continues to make progress on the buildout of its greenfield 5G network, with Las Vegas slated to become the first market launched later this year. The company gained credibility, and its stock reacted favorably, after it announced a partnership with Amazon to deploy a 5G cloud-native network using AWS’s cloud infrastructure. While the stock has been volatile in recent quarters, we continue to feel confident in Dish’s long-term prospects, which include competing as a fourth U.S. wireless carrier. Charter Communications has been executing well and benefiting from the growth in residential broadband, which has been accelerated by COVID-19 and should see further support from the Biden Administration’s infrastructure bill, which earmarks $65 billion for broadband buildout. In addition, we expect the company to continue to grow its wireless business, leveraging its mobile virtual network operator (MVNO) relationship with Verizon. The company continues to generate strong and growing free cash flow and deploys it toward consistent and material share buybacks.”

You can also take a peek at the 10 Best Stocks to Buy According to Billionaire Mario Gabelli and 10 Dividend Stocks in Warren Buffett’s Latest Portfolio.

Follow Insider Monkey on Twitter