ARP Americas LLC boosted its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,700 shares of the company’s stock after buying an additional 1,584 shares during the period. ARP Americas LLC’s holdings in Discovery Communications were worth $276,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. DnB Asset Management AS raised its position in shares of Discovery Communications by 19.9% in the first quarter. DnB Asset Management AS now owns 13,267 shares of the company’s stock valued at $386,000 after buying an additional 2,200 shares during the last quarter. Reliance Trust Co. of Delaware raised its position in shares of Discovery Communications by 4.9% in the first quarter. Reliance Trust Co. of Delaware now owns 19,387 shares of the company’s stock valued at $564,000 after buying an additional 907 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Discovery Communications during the first quarter valued at approximately $273,000. Capstone Asset Management Co. raised its position in shares of Discovery Communications by 13.5% in the first quarter. Capstone Asset Management Co. now owns 27,164 shares of the company’s stock valued at $790,000 after buying an additional 3,230 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Discovery Communications by 8.4% in the first quarter. Bank of Montreal Can now owns 43,128 shares of the company’s stock valued at $1,256,000 after buying an additional 3,355 shares during the last quarter. 44.22% of the stock is owned by institutional investors and hedge funds.
Discovery Communications, Inc. (NASDAQ:DISCA) traded up 1.12% during midday trading on Friday, reaching $22.49. 4,179,155 shares of the company were exchanged. The company has a 50 day moving average of $25.12 and a 200-day moving average of $26.95. The company 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 52-week low of $22.12 and a 52-week high of $30.25.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.04. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the company earned $0.71 EPS. Discovery Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Discovery Communications, Inc. will post $2.23 earnings per share for the current fiscal year.
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Several equities analysts recently commented on the stock. TheStreet lowered shares of Discovery Communications from a “b-” rating to a “c+” rating in a research report on Thursday, May 18th. MKM Partners reiterated a “neutral” rating and issued a $26.00 price target (down previously from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. Cowen and Company reiterated a “hold” rating and issued a $29.00 price target on shares of Discovery Communications in a report on Tuesday, July 11th. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a report on Wednesday, August 2nd. Finally, Pivotal Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, August 8th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Discovery Communications has a consensus rating of “Hold” and a consensus price target of $27.27.
In other Discovery Communications news, CFO Gunnar Wiedenfels acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $460,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was 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. Insiders have purchased 45,000 shares of company stock worth $1,016,200 in the last ninety days. 5.78% of the stock is currently owned by corporate insiders.
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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