Discovery Communications, Inc. (NASDAQ:DISCK) Shares Bought by Bank of America Corp DE
Bank of America Corp DE increased its position in Discovery Communications, Inc. (NASDAQ:DISCK) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683,292 shares of the company’s stock after buying an additional 67,712 shares during the period. Bank of America Corp DE owned about 0.12% of Discovery Communications worth $19,343,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Discovery Communications during the first quarter valued at about $178,000. Daiwa Securities Group Inc. raised its position in shares of Discovery Communications by 17.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company’s stock valued at $180,000 after buying an additional 950 shares during the period. Quantbot Technologies LP raised its position in shares of Discovery Communications by 1,035.8% in the first quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock valued at $187,000 after buying an additional 6,039 shares during the period. Trust Co. of Oklahoma acquired a new position in shares of Discovery Communications during the first quarter valued at about $209,000. Finally, Weik Investment Services Inc. acquired a new position in shares of Discovery Communications during the first quarter valued at about $209,000. 46.96% of the stock is currently owned by institutional investors.
Shares of Discovery Communications, Inc. (NASDAQ:DISCK) traded down 4.20% during trading on Friday, hitting $22.60. The stock had a trading volume of 3,203,104 shares. Discovery Communications, Inc. has a 52 week low of $22.52 and a 52 week high of $29.18. The firm has a 50 day moving average price of $25.25 and a 200-day moving average price of $26.64. The stock has a market capitalization of $12.88 billion, a price-to-earnings ratio of 11.99 and a beta of 1.47.
Discovery Communications (NASDAQ:DISCK) last released its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1.75 billion during the quarter. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. On average, equities research analysts forecast that Discovery Communications, Inc. will post $2.25 EPS for the current fiscal year.
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Several brokerages have issued reports on DISCK. Barrington Research reissued a “market perform” rating on shares of Discovery Communications in a research note on Tuesday. Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. TheStreet lowered Discovery Communications from a “b-” rating to a “c+” rating in a research report on Wednesday, May 17th. BidaskClub raised Discovery Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, ValuEngine lowered Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.00.
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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