BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240,746 shares of the company’s stock after selling 7,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Discovery Communications worth $6,218,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in DISCA. Mn Services Vermogensbeheer B.V. boosted its position in Discovery Communications by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock worth $106,000 after buying an additional 215 shares during the period. Daiwa Securities Group Inc. boosted its position in Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC bought a new position in Discovery Communications during the first quarter worth $134,000. Ameritas Investment Partners Inc. bought a new position in Discovery Communications during the first quarter worth $182,000. Finally, Horizon Investment Services LLC bought a new position in Discovery Communications during the first quarter worth $202,000. 44.22% of the stock is currently owned by institutional investors.
Discovery Communications, Inc. (DISCA) opened at 22.49 on Friday. The firm has a 50-day moving average of $25.12 and a 200-day moving average of $26.95. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 11.93 and a beta of 1.59. Discovery Communications, Inc. has a 12-month low of $22.12 and a 12-month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Discovery Communications, Inc. will post $2.23 earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on DISCA. Pivotal Research raised shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday, August 8th. MKM Partners reaffirmed a “neutral” rating and set a $26.00 price target (down from $30.00) on shares of Discovery Communications in a research note on Wednesday, August 2nd. Royal Bank Of Canada lowered their price target on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $28.00 price target on shares of Discovery Communications in a research note on Friday, June 16th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $24.00 price target on shares of Discovery Communications in a research note on Saturday, July 22nd. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Discovery Communications has an average rating of “Hold” and an average target price of $27.27.
In related news, CFO Gunnar Wiedenfels acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average cost of $23.01 per share, with a total value of $460,200.00. Following the purchase, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $460,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruce Campbell sold 9,283 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 45,000 shares of company stock valued at $1,016,200. 5.78% of the stock is owned by corporate insiders.
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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