Discovery Communications, Inc. (DISCA) Short Interest Down 12.0% in October
Discovery Communications, Inc. (NASDAQ:DISCA) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 33,561,470 shares, a drop of 12.0% from the October 13th total of 38,144,786 shares. Currently, 22.3% of the shares of the company are sold short. Based on an average trading volume of 4,695,365 shares, the short-interest ratio is currently 7.1 days.
In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were bought at an average price of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the purchase, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $772,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J David Wargo purchased 100,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $15.76 per share, for a total transaction of $1,576,000.00. Following the purchase, the director now directly owns 147,591 shares of the company’s stock, valued at approximately $2,326,034.16. The disclosure for this purchase can be found here. Insiders acquired 205,000 shares of company stock worth $3,298,850 in the last three months. 6.81% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its stake in Discovery Communications by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock worth $398,758,000 after purchasing an additional 123,603 shares during the period. Vanguard Group Inc. boosted its stake in Discovery Communications by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after purchasing an additional 858,015 shares during the period. Bank of New York Mellon Corp boosted its stake in Discovery Communications by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock worth $254,779,000 after purchasing an additional 1,297,175 shares during the period. BlackRock Inc. boosted its stake in Discovery Communications by 2.0% in the 2nd quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock worth $246,259,000 after purchasing an additional 187,781 shares during the period. Finally, State Street Corp boosted its stake in Discovery Communications by 5.4% in the 2nd quarter. State Street Corp now owns 7,346,135 shares of the company’s stock worth $189,736,000 after purchasing an additional 376,975 shares during the period. 45.34% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on DISCA shares. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 price target (down previously from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Barclays PLC lowered their price objective on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Credit Suisse Group lowered their price objective on shares of Discovery Communications from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Finally, UBS AG upgraded shares of Discovery Communications from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $25.00 to $23.00 in a research note on Tuesday, September 26th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.27.
Discovery Communications (NASDAQ:DISCA) opened at $16.28 on Wednesday. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87. The stock has a market cap of $6,440.13, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 0.91 and a beta of 1.55. Discovery Communications has a 12-month low of $16.20 and a 12-month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. equities analysts forecast that Discovery Communications will post 2.05 EPS for the current year.
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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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