Warren Buffett, chairman and CEO of Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) and Julian Robertson, the legendary hedge fund manager and founder Tiger Management gained big from their investment on Dish Network Corp (NASDAQ:DISH) after the stock price of the company surged by 6% to $50.33 per share today.
The shares of Dish Network climbed after the satellite-television
service provider generated strong financial results for the third
quarter. The stock also moved higher after Charlie Ergen, chairman of
the company commented that the idea of a potential acquisition remained
on the table.
Buffett owns 547, 312 shares of Dish Network, and acquired its stake
in the company at an average price of $38.94 per share in the previous
quarter. Based on the current trading price of the stock, Buffett earned
about$11 per share or approximately $5.7 million from his investment.
the other hand, Robertson owns 443,000 shares of Dish Network, and
acquired his stake in the company at an average price of $38.94 last
quarter. He also gained around $11 per share or approximately $4.85
million from his stake in the company.