State of Tennessee Treasury Department lifted its position in Discovery Communications Inc. (NASDAQ:DISCA) by 65.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,028 shares of the company’s stock after purchasing an additional 35,178 shares during the quarter. State of Tennessee Treasury Department’s holdings in Discovery Communications were worth $2,406,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new position in Discovery Communications in the fourth quarter worth $30,000. Pennsylvania Trust Co purchased a new position in Discovery Communications in the first quarter worth $1,085,000. Northwestern Mutual Wealth Management Co. grew its position in Discovery Communications by 96.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock worth $52,000 after acquiring an additional 945 shares in the last quarter. Rational Advisors LLC grew its position in Discovery Communications by 26.3% in the fourth quarter. Rational Advisors LLC now owns 2,018 shares of the company’s stock worth $50,000 after acquiring an additional 420 shares in the last quarter. Finally, Athena Capital Advisors LLC purchased a new position in Discovery Communications in the fourth quarter worth $66,000. 34.49% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ DISCA opened at $29.02 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Discovery Communications Inc. has a 12-month low of $23.79 and a 12-month high of $34.89. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.40 and a beta of 1.43.

Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. Discovery Communications had a net margin of 9.00% and a return on equity of 20.10%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts predict that Discovery Communications Inc. will post 3.81 earnings per share for the current fiscal year.

Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. BidaskClub lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Wolfe Research lowered shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. Barrington Research reiterated a “buy” rating and issued a $40.00 target price on shares of Discovery Communications in a research report on Tuesday, February 26th. Finally, Credit Suisse Group upped their target price on shares of Discovery Communications from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Discovery Communications currently has a consensus rating of “Buy” and an average price target of $33.89.

In other Discovery Communications news, insider Bruce Campbell sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total transaction of $288,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Faricy bought 35,900 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $27.91 per share, with a total value of $1,001,969.00. Following the completion of the acquisition, the chief executive officer now owns 182,367 shares of the company’s stock, valued at approximately $5,089,862.97. The disclosure for this purchase can be found here. Corporate insiders own 4.43% of the company’s stock.

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About Discovery Communications

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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