JPMorgan Chase & Co. decreased its position in Discovery Communications Inc. (NASDAQ:DISCA) by 22.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 489,227 shares of the company’s stock after selling 143,341 shares during the period. JPMorgan Chase & Co. owned 0.12% of Discovery Communications worth $12,344,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of DISCA. Alambic Investment Management L.P. raised its stake in shares of 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 shares of 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 shares of Discovery Communications during the second quarter worth about $2,299,000. Norinchukin Bank The raised its stake in shares of 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 shares of 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 owned by institutional investors and hedge funds.
Discovery Communications Inc. (NASDAQ:DISCA) traded up 1.08% on Monday, hitting $27.21. 1,694,601 shares of the stock traded hands. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 14.80 and a beta of 1.59. The stock has a 50-day moving average of $25.73 and a 200-day moving average of $26.66. Discovery Communications Inc. has a 12-month low of $23.66 and a 12-month high of $31.80.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The company earned $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Analysts forecast that Discovery Communications Inc. will post $1.97 earnings per share for the current year.
DISCA has been the topic of a number of analyst reports. Sanford C. Bernstein restated an “underperform” rating on shares of Discovery Communications in a research report on Friday, June 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $36.00 price target on shares of Discovery Communications in a report on Monday, June 27th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Discovery Communications in a report on Saturday, July 9th. Zacks Investment Research lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Finally, MKM Partners decreased their price target on shares of Discovery Communications from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, July 18th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.20.
Discovery Communications Company Profile
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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