Strs Ohio Sells 288,000 Shares of Discovery Communications Inc. (NASDAQ:DISCA)

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Strs Ohio lowered its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 714,079 shares of the company’s stock after selling 288,000 shares during the quarter. Strs Ohio’s holdings in Discovery Communications were worth $23,378,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DISCA. BlackRock Inc. boosted its position in shares of Discovery Communications by 0.8% during the 2nd quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock worth $328,218,000 after acquiring an additional 85,421 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Discovery Communications by 790.2% in the second quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock valued at $54,207,000 after acquiring an additional 1,567,374 shares during the last quarter. Zimmer Partners LP raised its position in Discovery Communications by 92.8% during the third quarter. Zimmer Partners LP now owns 1,759,100 shares of the company’s stock valued at $46,845,000 after purchasing an additional 846,600 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Discovery Communications by 29.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,193,443 shares of the company’s stock valued at $31,781,000 after purchasing an additional 274,268 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Discovery Communications by 9.0% during the second quarter. Morgan Stanley now owns 1,145,150 shares of the company’s stock worth $35,155,000 after purchasing an additional 94,081 shares during the last quarter. 35.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of Discovery Communications stock opened at $30.32 on Monday. The firm’s 50 day moving average is $32.32 and its 200 day moving average is $29.88. The firm has a market capitalization of $15.93 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 0.35 and a beta of 1.62. Discovery Communications Inc. has a 1 year low of $25.08 and a 1 year high of $33.65. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.33.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Discovery Communications had a net margin of 16.81% and a return on equity of 23.29%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Discovery Communications Inc. will post 3.7 earnings per share for the current year.

In other news, insider Bruce Campbell sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $33.01, for a total transaction of $825,250.00. Following the sale, the insider now directly owns 364,219 shares in the company, valued at $12,022,869.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John C. Malone acquired 2,670,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was purchased at an average cost of $28.03 per share, with a total value of $74,840,100.00. Following the purchase, the director now directly owns 10,317,937 shares of the company’s stock, valued at $289,211,774.11. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 70,570 shares of company stock worth $2,292,705. Insiders own 4.43% of the company’s stock.

A number of equities research analysts have weighed in on DISCA shares. Rosenblatt Securities raised their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Sunday, November 10th. UBS Group boosted their price target on Discovery Communications from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Imperial Capital raised Discovery Communications from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $29.00 to $34.00 in a report on Tuesday, October 22nd. Wells Fargo & Co upped their price objective on Discovery Communications from $38.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, ValuEngine lowered Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.67.

About Discovery Communications

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.

See Also: Cost of Goods Sold (COGS)

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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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