Comerica Bank trimmed its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 4.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,782 shares of the company’s stock after selling 1,529 shares during the period. Comerica Bank’s holdings in Discovery Communications were worth $911,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of DISCA. Securian Asset Management Inc raised its position in shares of Discovery Communications by 2.2% during the first quarter. Securian Asset Management Inc now owns 16,026 shares of the company’s stock worth $433,000 after acquiring an additional 341 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Discovery Communications by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 24,698 shares of the company’s stock worth $666,000 after acquiring an additional 357 shares during the last quarter. Rational Advisors LLC boosted its stake in shares of Discovery Communications by 26.3% during the 4th quarter. Rational Advisors LLC now owns 2,018 shares of the company’s stock worth $50,000 after acquiring an additional 420 shares during the last quarter. Cardan Capital Partners LLC boosted its stake in shares of Discovery Communications by 3.2% during the 1st quarter. Cardan Capital Partners LLC now owns 13,783 shares of the company’s stock worth $372,000 after acquiring an additional 425 shares during the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in shares of Discovery Communications by 1.5% during the 1st quarter. Malaga Cove Capital LLC now owns 34,544 shares of the company’s stock worth $933,000 after acquiring an additional 500 shares during the last quarter. 34.42% of the stock is currently owned by institutional investors and hedge funds.
DISCA has been the topic of a number of research reports. TheStreet upgraded shares of Discovery Communications from a “c” rating to a “b” rating in a report on Tuesday, February 26th. Barrington Research reiterated a “buy” rating and set a $40.00 price target on shares of Discovery Communications in a report on Tuesday, February 26th. BidaskClub cut shares of Discovery Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. Imperial Capital boosted their price objective on shares of Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday. Finally, Credit Suisse Group upped their price target on shares of Discovery Communications from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Discovery Communications currently has a consensus rating of “Buy” and an average target price of $33.89.
In other Discovery Communications news, insider Bruce Campbell sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $28.89, for a total value of $288,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter Faricy acquired 35,900 shares of Discovery Communications stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the purchase, the chief executive officer now owns 182,367 shares of the company’s stock, valued at approximately $5,089,862.97. The disclosure for this purchase can be found here. Insiders own 4.43% of the company’s stock.
Shares of NASDAQ DISCA traded down $0.41 during midday trading on Wednesday, hitting $29.52. The company’s stock had a trading volume of 3,233,045 shares, compared to its average volume of 4,015,899. The company’s fifty day moving average price is $28.43. 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 Inc. has a 1 year low of $23.79 and a 1 year high of $34.89. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.42 and a beta of 1.43.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.72 billion. Discovery Communications had a return on equity of 20.10% and a net margin of 9.00%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. As a group, equities analysts forecast that Discovery Communications Inc. will post 3.81 EPS for the current fiscal year.
Discovery Communications Company Profile
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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