Sterling Capital Management LLC Sells 3,510 Shares of Discovery Communications, Inc. (DISCA)
Sterling Capital Management LLC cut its holdings in Discovery Communications, Inc. (NASDAQ:DISCA) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,854 shares of the company’s stock after selling 3,510 shares during the quarter. Sterling Capital Management LLC’s holdings in Discovery Communications were worth $1,624,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Discovery Communications by 437.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after purchasing an additional 3,230 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of Discovery Communications during the second quarter worth $133,000. Horizon Investment Services LLC bought a new position in shares of Discovery Communications during the first quarter worth $202,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of 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 worth $204,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Montag A & Associates Inc. bought a new position in shares of Discovery Communications during the second quarter worth $209,000. 45.83% of the stock is currently owned by institutional investors.
In other news, insider Paul J. Guagliardo purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $22.71 per share, with a total value of $227,100.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels purchased 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost 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 $460,200. The disclosure for this purchase can be found here. Insiders acquired 55,000 shares of company stock worth $1,243,300 over the last ninety days. Insiders own 6.81% of the company’s stock.
Shares of Discovery Communications, Inc. (DISCA) opened at 20.09 on Friday. The firm has a 50-day moving average of $21.02 and a 200 day moving average of $24.82. Discovery Communications, Inc. has a 52 week low of $19.01 and a 52 week high of $30.25. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of 10.66 and a beta of 1.56.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that Discovery Communications, Inc. will post $2.22 earnings per share for the current fiscal year.
Several equities research analysts recently commented on DISCA shares. Cowen and Company reaffirmed a “hold” rating and issued a $29.00 price objective on shares of Discovery Communications in a research report on Tuesday, July 11th. Piper Jaffray Companies started coverage on shares of Discovery Communications in a research report on Friday, August 11th. They issued a “neutral” rating and a $27.00 price objective on the stock. Zacks Investment Research raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Discovery Communications in a research report on Friday, July 14th. Finally, BidaskClub cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Discovery Communications currently has a consensus rating of “Hold” and a consensus price target of $26.57.
Discovery Communications Company 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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