Assetmark Inc. increased its position in Discovery Communications Inc. (NASDAQ:DISCA) by 37.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,188 shares of the company’s stock after purchasing an additional 16,618 shares during the period. Assetmark Inc.’s holdings in Discovery Communications were worth $1,878,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Thor Advisors LLC purchased a new position in Discovery Communications in the 1st quarter worth about $29,000. Redhawk Wealth Advisors Inc. purchased a new position in Discovery Communications in the 2nd quarter worth about $30,000. Parkside Financial Bank & Trust raised its position in Discovery Communications by 131.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,013 shares of the company’s stock worth $31,000 after buying an additional 576 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Discovery Communications in the 2nd quarter worth about $37,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Discovery Communications by 96.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock worth $52,000 after buying an additional 945 shares during the last quarter. Institutional investors own 34.00% of the company’s stock.
A number of brokerages have weighed in on DISCA. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Imperial Capital decreased their target price on Discovery Communications from $30.00 to $29.00 and set an “inline” rating for the company in a research report on Tuesday, August 27th. Finally, Wells Fargo & Co began coverage on Discovery Communications in a research report on Monday, September 23rd. They issued an “outperform” rating and a $35.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $34.27.
In related news, Director Daniel E. Sanchez sold 1,059 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $28.40, for a total value of $30,075.60. Following the completion of the sale, the director now directly owns 16,789 shares of the company’s stock, valued at approximately $476,807.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total transaction of $93,105.30. Following the completion of the sale, the general counsel now directly owns 46,388 shares of the company’s stock, valued at $1,399,989.84. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate insiders.
NASDAQ DISCA opened at $26.80 on Friday. Discovery Communications Inc. has a 52 week low of $23.79 and a 52 week high of $34.89. The firm has a market capitalization of $14.35 billion, a P/E ratio of 12.70, a PEG ratio of 0.38 and a beta of 1.57. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $27.63 and a 200-day moving average price of $28.89.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company earned $0.77 EPS. Discovery Communications’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Discovery Communications Inc. will post 3.61 EPS for the current 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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