Discovery Communications Inc. (NASDAQ:DISCA) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 28,527,100 shares, an increase of 25.3% from the May 30th total of 22,759,400 shares. Based on an average daily trading volume, of 3,950,000 shares, the days-to-cover ratio is presently 7.2 days. Approximately 18.8% of the shares of the stock are short sold.
NASDAQ DISCA traded up $0.79 during trading on Friday, hitting $32.41. The stock had a trading volume of 4,959,299 shares, compared to its average volume of 3,285,152. The firm has a market cap of $17.01 billion, a P/E ratio of 15.36, a PEG ratio of 0.42 and a beta of 1.47. The company has a 50-day moving average price of $29.47. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 1.16. Discovery Communications has a 12 month low of $23.79 and a 12 month high of $34.89.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Thursday, May 2nd. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Discovery Communications had a return on equity of 20.10% and a net margin of 9.00%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. Sell-side analysts expect that Discovery Communications will post 3.93 EPS for the current year.
Several equities analysts have recently weighed in on DISCA shares. Imperial Capital lifted their price objective on Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, June 24th. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They set an “underperform” rating on the stock. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $33.89.
In other news, CEO Peter Faricy acquired 35,900 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the completion of the transaction, the chief executive officer now directly owns 182,367 shares in the company, valued at $5,089,862.97. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bruce Campbell sold 10,000 shares of Discovery Communications stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.89, for a total value of $288,900.00. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB increased its holdings in shares of Discovery Communications by 12.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 58,699 shares of the company’s stock worth $1,802,000 after acquiring an additional 6,312 shares during the last quarter. Addenda Capital Inc. increased its holdings in shares of Discovery Communications by 2.0% during the 2nd quarter. Addenda Capital Inc. now owns 145,894 shares of the company’s stock worth $4,481,000 after acquiring an additional 2,906 shares during the last quarter. PFS Investments Inc. acquired a new position in shares of Discovery Communications during the 2nd quarter worth approximately $366,000. Retirement Systems of Alabama increased its holdings in shares of Discovery Communications by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 73,609 shares of the company’s stock worth $2,260,000 after acquiring an additional 492 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Discovery Communications during the 2nd quarter worth approximately $1,292,000. Hedge funds and other institutional investors own 34.42% of the company’s stock.
About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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