Strs Ohio reduced its holdings in Discovery Communications Inc. (NASDAQ:DISCA) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,079 shares of the company’s stock after selling 288,000 shares during the quarter. Strs Ohio owned approximately 0.14% of Discovery Communications worth $23,378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vestmark Advisory Solutions Inc. grew its stake in shares of Discovery Communications by 1.7% during the second quarter. Vestmark Advisory Solutions Inc. now owns 20,856 shares of the company’s stock valued at $640,000 after purchasing an additional 358 shares during the last quarter. Jolley Asset Management LLC raised its position in Discovery Communications by 1.6% in the 4th quarter. Jolley Asset Management LLC now owns 27,290 shares of the company’s stock worth $893,000 after purchasing an additional 420 shares during the last quarter. CSat Investment Advisory L.P. raised its position in Discovery Communications by 89.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 902 shares of the company’s stock worth $28,000 after purchasing an additional 426 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in Discovery Communications by 3.9% during the 3rd quarter. First Mercantile Trust Co. now owns 11,525 shares of the company’s stock worth $307,000 after buying an additional 430 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in Discovery Communications by 0.5% in the 3rd quarter. DNB Asset Management AS now owns 89,818 shares of the company’s stock valued at $2,392,000 after buying an additional 483 shares during the last quarter. 35.42% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on DISCA. UBS Group lifted their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Wells Fargo & Co upped their price target on Discovery Communications from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities raised their price target on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Sunday, November 10th. Barrington Research reiterated a “buy” rating and issued a $40.00 price objective on shares of Discovery Communications in a research report on Thursday, November 7th. Finally, Imperial Capital raised Discovery Communications from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $29.00 to $34.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Discovery Communications currently has an average rating of “Hold” and an average price target of $36.67.
In other Discovery Communications news, insider Bruce Campbell sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $33.01, for a total value of $825,250.00. Following the completion of the transaction, the insider now directly owns 364,219 shares of the company’s stock, valued at $12,022,869.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Malone purchased 2,670,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $74,840,100.00. Following the transaction, the director now owns 10,317,937 shares of the company’s stock, valued at $289,211,774.11. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 70,570 shares of company stock worth $2,292,705. Company insiders own 4.43% of the company’s stock.
DISCA stock opened at $30.32 on Monday. Discovery Communications Inc. has a twelve month low of $25.08 and a twelve month high of $33.65. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The company has a market cap of $15.93 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.35 and a beta of 1.62. The business’s fifty day moving average is $32.32 and its 200-day moving average is $29.88.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Discovery Communications had a return on equity of 23.29% and a net margin of 16.81%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. Research analysts anticipate that Discovery Communications Inc. will post 3.7 earnings per share for the current fiscal year.
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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