SeaTown Holdings Pte. Ltd. Invests $2.22 Million in Discovery Communications Inc. (NASDAQ:DISCA)
SeaTown Holdings Pte. Ltd. purchased a new stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 72,260 shares of the company’s stock, valued at approximately $2,218,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DISCA. Thor Advisors LLC purchased a new stake in Discovery Communications during the first quarter valued at $29,000. Duncker Streett & Co. Inc. purchased a new stake in Discovery Communications during the second quarter valued at $37,000. Northwestern Mutual Wealth Management Co. increased its position in Discovery Communications by 96.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock valued at $52,000 after acquiring an additional 945 shares during the last quarter. FTB Advisors Inc. increased its position in Discovery Communications by 316.7% during the first quarter. FTB Advisors Inc. now owns 2,963 shares of the company’s stock valued at $78,000 after acquiring an additional 2,252 shares during the last quarter. Finally, Mint Tower Capital Management B.V. purchased a new stake in Discovery Communications during the first quarter valued at $80,000. Institutional investors own 35.17% of the company’s stock.
In other news, insider Bruce Campbell sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was 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 SEC, which is accessible through this link. Also, CEO Peter Faricy acquired 35,900 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the transaction, the chief executive officer now directly 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. 4.43% of the stock is owned by insiders.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. As a group, research analysts predict that Discovery Communications Inc. will post 3.76 earnings per share for the current fiscal year.
DISCA has been the subject of several recent research reports. BidaskClub lowered Discovery Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wolfe Research lowered Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. Imperial Capital upped their price objective on Discovery Communications from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, June 24th. Finally, ValuEngine lowered Discovery Communications from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $33.89.
Discovery Communications Profile
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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