Discovery Communications (NASDAQ:DISCA) was upgraded by Barrington Research from a “market perform” rating to an “outperform” rating in a report issued on Tuesday. The firm currently has a $30.00 price target on the stock. Barrington Research’s target price points to a potential upside of 32.63% from the stock’s current price.
DISCA has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price objective (down previously from $29.00) on shares of Discovery Communications in a research report on Friday, November 3rd. UBS Group raised shares of Discovery Communications from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $23.00 in a research report on Tuesday, September 26th. Jefferies Group dropped their target price on shares of Discovery Communications from $27.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. Bank of America raised shares of Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, December 21st. Finally, ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Sunday. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.33.
Shares of Discovery Communications (NASDAQ:DISCA) traded down $0.49 during trading on Tuesday, hitting $22.62. 5,293,200 shares of the stock were exchanged, compared to its average volume of 5,160,650. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. Discovery Communications has a 52-week low of $15.99 and a 52-week high of $30.25. The stock has a market cap of $8,260.00, a P/E ratio of 17.81, a P/E/G ratio of 1.16 and a beta of 1.56.
In other Discovery Communications news, Director J David Wargo acquired 100,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $15.76 per share, with a total value of $1,576,000.00. Following the acquisition, the director now directly owns 147,591 shares of the company’s stock, valued at $2,326,034.16. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Malone acquired 332,523 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was acquired at an average cost of $19.72 per share, for a total transaction of $6,557,353.56. Following the completion of the acquisition, the director now directly owns 671,095 shares in the company, valued at $13,233,993.40. The disclosure for this purchase can be found here. Insiders bought a total of 527,523 shares of company stock worth $9,629,104 over the last ninety days. Insiders own 6.81% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in DISCA. Tower Research Capital LLC TRC lifted its stake in shares of Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after purchasing an additional 3,230 shares during the period. Advisor Group Inc. lifted its stake in shares of Discovery Communications by 27.7% in the 2nd quarter. Advisor Group Inc. now owns 9,100 shares of the company’s stock valued at $235,000 after purchasing an additional 1,975 shares during the period. Flossbach Von Storch AG acquired a new position in shares of Discovery Communications in the 3rd quarter valued at $208,000. Beach Investment Management LLC. acquired a new position in shares of Discovery Communications in the 2nd quarter valued at $254,000. Finally, QCM Cayman Ltd. lifted its stake in shares of Discovery Communications by 38.6% in the 2nd quarter. QCM Cayman Ltd. now owns 10,350 shares of the company’s stock valued at $267,000 after purchasing an additional 2,885 shares during the period. 48.12% of the stock is currently owned by institutional investors and hedge funds.
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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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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