Cubist Systematic Strategies LLC Has $591,000 Position in Discovery Communications, Inc. (DISCA)
Cubist Systematic Strategies LLC raised its stake in Discovery Communications, Inc. (NASDAQ:DISCA) by 748.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,880 shares of the company’s stock after buying an additional 20,182 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Discovery Communications were worth $591,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in DISCA. Ballentine Partners LLC bought a new position in Discovery Communications in the second quarter valued at approximately $133,000. Horizon Investment Services LLC bought a new position in Discovery Communications in the first quarter valued at approximately $202,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Discovery Communications by 112.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock valued at $204,000 after buying an additional 3,700 shares in the last quarter. Montag A & Associates Inc. bought a new position in Discovery Communications in the second quarter valued at approximately $209,000. Finally, MUFG Americas Holdings Corp lifted its stake in Discovery Communications by 13.9% in the second quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock valued at $232,000 after buying an additional 1,100 shares in the last quarter. 45.83% of the stock is currently owned by hedge funds and other institutional investors.
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Discovery Communications, Inc. (DISCA) opened at 20.29 on Friday. The stock’s 50 day moving average price is $20.97 and its 200 day moving average price is $24.76. Discovery Communications, Inc. has a one year low of $19.01 and a one year high of $30.25. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 10.76 and a beta of 1.56.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.04). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts predict that Discovery Communications, Inc. will post $2.22 earnings per share for the current fiscal year.
In other news, insider Paul J. Guagliardo purchased 10,000 shares of the business’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $227,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $21.70 per share, with a total value of $325,500.00. Following the acquisition, the chief financial officer now directly owns 35,000 shares in the company, valued at $759,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 55,000 shares of company stock valued at $1,243,300 in the last 90 days. 6.81% of the stock is currently owned by company insiders.
DISCA has been the topic of a number of research reports. BidaskClub lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Credit Suisse Group raised shares of Discovery Communications from an “underperform” rating to a “neutral” rating and cut their price target for the company from $23.00 to $22.00 in a research note on Thursday, September 14th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Wells Fargo & Company initiated coverage on shares of Discovery Communications in a research note on Thursday, July 20th. They issued a “market perform” rating and a $28.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.57.
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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