BlackRock Inc. Increases Stake in Discovery Communications, Inc. (DISCA)
BlackRock Inc. grew its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,533,783 shares of the company’s stock after purchasing an additional 187,781 shares during the period. BlackRock Inc. owned approximately 1.67% of Discovery Communications worth $246,259,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in DISCA. Ballentine Partners LLC acquired a new stake in shares of Discovery Communications in the 2nd quarter worth about $133,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Discovery Communications in the 1st quarter worth about $182,000. Horizon Investment Services LLC acquired a new stake in shares of Discovery Communications in the 1st quarter worth about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Discovery Communications by 112.1% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock worth $204,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in shares of Discovery Communications in the 2nd quarter worth about $209,000. Hedge funds and other institutional investors own 45.84% of the company’s stock.
DISCA has been the topic of a number of analyst reports. Citigroup Inc. upgraded shares of Discovery Communications from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $30.00 to $29.00 in a report on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 target price on shares of Discovery Communications in a report on Friday, July 14th. Pivotal Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, August 8th. Jefferies Group LLC restated a “hold” rating and issued a $28.00 target price on shares of Discovery Communications in a report on Friday, June 16th. Finally, BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. Discovery Communications currently has a consensus rating of “Hold” and an average target price of $27.07.
Discovery Communications, Inc. (DISCA) opened at 21.52 on Friday. The company has a market capitalization of $12.27 billion, a P/E ratio of 11.42 and a beta of 1.56. The company has a 50-day moving average of $21.75 and a 200 day moving average of $25.39. Discovery Communications, Inc. has a 12-month low of $20.14 and a 12-month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced 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). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Discovery Communications, Inc. will post $2.24 earnings per share for the current fiscal year.
In other Discovery Communications news, Director S Decker Anstrom bought 10,000 shares of Discovery Communications stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost of $23.05 per share, with a total value of $230,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels bought 20,000 shares of Discovery Communications stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $23.01 per share, with a total value of $460,200.00. Following the completion of the acquisition, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $460,200. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by corporate insiders.
Discovery Communications Profile
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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