Strs Ohio boosted its position in Discovery Communications Inc. (NASDAQ:DISCA) by 155.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 59,250 shares of the company’s stock after purchasing an additional 36,036 shares during the period. Strs Ohio’s holdings in Discovery Communications were worth $1,250,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its position in shares of Discovery Communications by 92.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 199,431 shares of the company’s stock valued at $5,390,000 after acquiring an additional 96,008 shares during the period. Guggenheim Capital LLC grew its holdings in Discovery Communications by 37.5% during the fourth quarter. Guggenheim Capital LLC now owns 198,621 shares of the company’s stock valued at $6,503,000 after purchasing an additional 54,138 shares during the period. Geode Capital Management LLC grew its holdings in Discovery Communications by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,825,975 shares of the company’s stock valued at $92,328,000 after purchasing an additional 90,461 shares during the period. Sunbelt Securities Inc. purchased a new stake in Discovery Communications in the fourth quarter worth $10,739,000. Finally, Norges Bank purchased a new position in shares of Discovery Communications during the 4th quarter valued at $6,502,000. 36.22% of the stock is currently owned by institutional investors and hedge funds.
DISCA has been the topic of a number of research reports. MKM Partners lowered their price objective on Discovery Communications from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Zacks Investment Research raised shares of Discovery Communications from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a report on Monday, June 8th. Royal Bank of Canada restated a “buy” rating and set a $26.00 target price on shares of Discovery Communications in a research report on Thursday, May 7th. Citigroup decreased their price objective on Discovery Communications from $39.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Finally, UBS Group reduced their price target on shares of Discovery Communications from $30.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Discovery Communications presently has a consensus rating of “Hold” and an average price target of $27.00.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Wednesday, May 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Discovery Communications had a return on equity of 23.40% and a net margin of 18.54%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. Research analysts forecast that Discovery Communications Inc. will post 2.89 earnings per share for the current fiscal year.
In other news, Director John C. Malone sold 5,229 shares of Discovery Communications stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.44, for a total value of $112,109.76. Following the completion of the transaction, the director now owns 780,591 shares of the company’s stock, valued at approximately $16,735,871.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.88% of the company’s stock.
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.
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