Zacks Investment Research upgraded shares of Discovery Communications Inc. (NASDAQ:DISCK) from a sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “

Discovery Communications (NASDAQ:DISCK) opened at 26.50 on Thursday. The stock’s 50 day moving average is $25.68 and its 200 day moving average is $25.29. Discovery Communications has a 1-year low of $22.43 and a 1-year high of $29.93. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 14.98 and a beta of 1.49.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Discovery Communications by 1.0% in the first quarter. Legal & General Group Plc now owns 1,166,358 shares of the company’s stock worth $31,490,000 after buying an additional 11,538 shares during the period. Envestnet Asset Management Inc. raised its position in Discovery Communications by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 100,385 shares of the company’s stock worth $2,710,000 after buying an additional 11,846 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in Discovery Communications during the first quarter worth $217,000. Springbok Capital Management LLC acquired a new position in Discovery Communications during the first quarter worth $112,000. Finally, Squarepoint Ops LLC raised its position in Discovery Communications by 37.6% in the first quarter. Squarepoint Ops LLC now owns 48,653 shares of the company’s stock worth $1,314,000 after buying an additional 13,290 shares during the period. 50.80% of the stock is currently owned by hedge funds and other institutional investors.

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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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.

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