Franklin Resources Inc. Raises Position in Discovery Communications, Inc. (DISCA)
Franklin Resources Inc. boosted its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 42.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,153 shares of the company’s stock after acquiring an additional 3,899 shares during the period. Franklin Resources Inc.’s holdings in Discovery Communications were worth $339,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of DISCA. Ballentine Partners LLC bought a new position in Discovery Communications during the second quarter valued at about $133,000. Ameritas Investment Partners Inc. bought a new position in Discovery Communications during the first quarter valued at about $182,000. Horizon Investment Services LLC bought a new position in Discovery Communications during the first quarter valued at about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Discovery Communications by 112.1% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock valued at $204,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in Discovery Communications during the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 45.84% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barrington Research reaffirmed a “market perform” rating on shares of Discovery Communications in a report on Wednesday, August 2nd. Royal Bank Of Canada decreased their price objective on Discovery Communications from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. Piper Jaffray Companies assumed coverage on Discovery Communications in a report on Friday, August 11th. They set a “neutral” rating and a $27.00 price objective on the stock. FBR & Co decreased their price objective on Discovery Communications from $30.00 to $28.00 and set a “mkt perform” rating on the stock in a report on Tuesday, August 1st. Finally, MKM Partners reaffirmed a “neutral” rating and set a $26.00 price objective (down from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.07.
In related news, CFO Gunnar Wiedenfels bought 20,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $460,200. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul J. Guagliardo bought 10,000 shares of the business’s stock in a transaction on Friday, August 18th. The stock was bought at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. The disclosure for this purchase can be found here. Insiders purchased 55,000 shares of company stock worth $1,243,300 over the last three months. 6.81% of the stock is currently owned by insiders.
Discovery Communications, Inc. (DISCA) opened at 21.715 on Thursday. The firm has a market capitalization of $12.38 billion, a P/E ratio of 11.520 and a beta of 1.56. Discovery Communications, Inc. has a one year low of $20.14 and a one year high of $30.25. The stock has a 50 day moving average price of $21.78 and a 200 day moving average price of $25.42.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. On average, equities analysts predict that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
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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