Manning & Napier Advisors LLC Sells 12,585 Shares of Discovery Communications, Inc. (DISCA)

Manning & Napier Advisors LLC decreased its stake in Discovery Communications, Inc. (NASDAQ:DISCA) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,575 shares of the company’s stock after selling 12,585 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Discovery Communications were worth $3,908,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after buying an additional 3,230 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Discovery Communications in the 2nd quarter valued at $133,000. Montag A & Associates Inc. acquired a new stake in Discovery Communications in the 2nd quarter valued at $209,000. MUFG Americas Holdings Corp boosted its stake in Discovery Communications by 13.9% in the 2nd 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. Finally, LS Investment Advisors LLC boosted its stake in Discovery Communications by 5.6% in the second quarter. LS Investment Advisors LLC now owns 9,084 shares of the company’s stock worth $235,000 after purchasing an additional 484 shares in the last quarter. 46.23% of the stock is currently owned by institutional investors and hedge funds.

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In other news, CFO Gunnar Wiedenfels acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $15.45 per share, with a total value of $231,750.00. Following the acquisition, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $772,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J David Wargo acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $15.76 per share, for a total transaction of $1,576,000.00. Following the acquisition, the director now owns 147,591 shares in the company, valued at $2,326,034.16. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 195,000 shares of company stock worth $3,071,750. Company insiders own 6.81% of the company’s stock.

DISCA has been the topic of a number of recent analyst reports. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Citigroup Inc. raised Discovery Communications from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $30.00 to $29.00 in a research note on Tuesday, August 1st. FBR & Co reduced their price objective on Discovery Communications from $30.00 to $28.00 and set a “mkt perform” rating on the stock in a research note on Tuesday, August 1st. MKM Partners restated a “neutral” rating and set a $26.00 target price (down previously from $30.00) on shares of Discovery Communications in a research report on Wednesday, August 2nd. Finally, Barrington Research restated a “market perform” rating on shares of Discovery Communications in a research report on Wednesday, August 2nd. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Discovery Communications presently has a consensus rating of “Hold” and an average price target of $24.27.

Discovery Communications, Inc. (NASDAQ:DISCA) traded up $0.79 during trading on Monday, reaching $17.55. The company’s stock had a trading volume of 6,901,800 shares, compared to its average volume of 3,713,052. Discovery Communications, Inc. has a 12-month low of $15.99 and a 12-month high of $30.25. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. The company has a market cap of $6,440.00, a price-to-earnings ratio of 8.44, a PEG ratio of 0.94 and a beta of 1.57.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. equities analysts expect that Discovery Communications, Inc. will post 2.05 earnings per share for the current year.

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.

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

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