Advisors Asset Management Inc. decreased its position in Discovery Communications Inc. (NASDAQ:DISCA) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,158 shares of the company’s stock after selling 1,271 shares during the period. Advisors Asset Management Inc.’s holdings in Discovery Communications were worth $408,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of DISCA. Alambic Investment Management L.P. raised its stake in Discovery Communications by 91.7% in the second quarter. Alambic Investment Management L.P. now owns 166,610 shares of the company’s stock worth $4,204,000 after buying an additional 79,700 shares during the period. Ameriprise Financial Inc. raised its stake in Discovery Communications by 83.7% in the second quarter. Ameriprise Financial Inc. now owns 161,312 shares of the company’s stock worth $4,071,000 after buying an additional 73,508 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in Discovery Communications during the second quarter worth $2,299,000. Norinchukin Bank The raised its stake in Discovery Communications by 5.5% in the second quarter. Norinchukin Bank The now owns 28,258 shares of the company’s stock worth $713,000 after buying an additional 1,470 shares during the period. Finally, Assetmark Inc. raised its stake in Discovery Communications by 6,559.4% in the second quarter. Assetmark Inc. now owns 10,655 shares of the company’s stock worth $269,000 after buying an additional 10,495 shares during the period. 40.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Discovery Communications Inc. (NASDAQ:DISCA) traded down 0.19% during midday trading on Thursday, reaching $26.75. 2,312,981 shares of the company traded hands. The stock has a 50 day moving average price of $25.68 and a 200 day moving average price of $26.67. Discovery Communications Inc. has a 1-year low of $23.66 and a 1-year high of $31.80. The firm has a market capitalization of $11.19 billion, a PE ratio of 14.55 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the company earned $0.49 EPS. Discovery Communications’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Discovery Communications Inc. will post $1.98 earnings per share for the current fiscal year.
A number of research firms have commented on DISCA. Barrington Research cut shares of Discovery Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday. Moffett Nathanson cut shares of Discovery Communications from a “neutral” rating to a “sell” rating and cut their price target for the stock from $31.00 to $21.00 in a research note on Tuesday. Jefferies Group reissued a “hold” rating on shares of Discovery Communications in a research note on Monday, September 12th. Loop Capital reissued a “buy” rating and issued a $31.00 price target on shares of Discovery Communications in a research note on Saturday, September 3rd. Finally, Argus reissued a “buy” rating and issued a $40.00 price target on shares of Discovery Communications in a research note on Monday, August 15th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.05.
About Discovery Communications
Discovery Communications, Inc, (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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