Renaissance Group LLC Acquires 33,091 Shares of Discovery Communications, Inc. (DISCA)

Renaissance Group LLC increased its holdings in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,062,813 shares of the company’s stock after buying an additional 33,091 shares during the period. Renaissance Group LLC owned about 0.28% of Discovery Communications worth $22,627,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Discovery Communications by 437.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after purchasing an additional 3,230 shares during the last quarter. Ballentine Partners LLC bought a new position in Discovery Communications during the 2nd quarter worth approximately $133,000. Montag A & Associates Inc. bought a new position in Discovery Communications during the 2nd quarter worth approximately $209,000. OLD National Bancorp IN bought a new position in Discovery Communications during the 3rd quarter worth approximately $222,000. Finally, MUFG Americas Holdings Corp raised its holdings in Discovery Communications by 13.9% during the 2nd quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock worth $232,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 46.23% of the company’s stock.

Discovery Communications, Inc. (NASDAQ DISCA) traded down $0.19 on Tuesday, reaching $17.36. 6,616,100 shares of the company’s stock were exchanged, compared to its average volume of 3,726,012. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. The stock has a market cap of $6,370.00, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.94 and a beta of 1.57. Discovery Communications, Inc. has a 1 year low of $15.99 and a 1 year high of $30.25.

Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Discovery Communications had a return on equity of 10.40% and a net margin of 13.51%. Discovery Communications’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. sell-side analysts forecast that Discovery Communications, Inc. will post 2.05 EPS for the current fiscal year.

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

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Several analysts have recently weighed in on DISCA shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $29.00 price objective on shares of Discovery Communications in a research note on Friday, October 20th. Credit Suisse Group upgraded shares of Discovery Communications from an “underperform” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $22.00 in a research note on Thursday, September 14th. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Discovery Communications in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $24.27.

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

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