Alliancebernstein L.P. cut its position in shares of Discovery Communications Inc. (NASDAQ:DISCK) by 47.4% in the 4th quarter, Holdings Channel reports. The firm owned 378,239 shares of the company’s stock after selling 340,809 shares during the period. Alliancebernstein L.P.’s holdings in Discovery Communications were worth $8,007,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DISCK. State of Wisconsin Investment Board raised its holdings in Discovery Communications by 101.1% during the fourth quarter. State of Wisconsin Investment Board now owns 13,528,070 shares of the company’s stock worth $286,389,000 after purchasing an additional 6,799,916 shares during the last quarter. Prudential Financial Inc. increased its position in Discovery Communications by 207.2% during the third quarter. Prudential Financial Inc. now owns 2,588,195 shares of the company’s stock worth $52,437,000 after buying an additional 1,745,767 shares in the last quarter. Mackenzie Financial Corp increased its position in Discovery Communications by 130.0% during the fourth quarter. Mackenzie Financial Corp now owns 3,083,624 shares of the company’s stock worth $65,280,000 after buying an additional 1,743,195 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Discovery Communications by 25.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,362,821 shares of the company’s stock worth $149,171,000 after buying an additional 1,484,500 shares in the last quarter. Finally, Cheyne Capital Management UK LLP purchased a new position in Discovery Communications during the fourth quarter worth $23,488,000. 51.76% of the stock is owned by hedge funds and other institutional investors.
Shares of Discovery Communications Inc. (NASDAQ:DISCK) opened at $19.42 on Monday. The company has a market capitalization of $7,416.63, a price-to-earnings ratio of -32.37 and a beta of 1.41. The company has a debt-to-equity ratio of 3.20, a current ratio of 5.34 and a quick ratio of 5.34. Discovery Communications Inc. has a 1 year low of $14.99 and a 1 year high of $29.18.
Several equities analysts have weighed in on DISCK shares. BidaskClub downgraded Discovery Communications from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Discovery Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley raised their price target on Discovery Communications from $22.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.00.
Discovery Communications 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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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