Verition Fund Management LLC bought a new stake in Discovery Communications, Inc. (NASDAQ:DISCA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,574 shares of the company’s stock, valued at approximately $609,000.
Other large investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in Discovery Communications during the second quarter worth $555,000. Bank of Nova Scotia grew its holdings in Discovery Communications by 764.3% during the second quarter. Bank of Nova Scotia now owns 30,968 shares of the company’s stock worth $800,000 after acquiring an additional 27,385 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Discovery Communications by 10.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,983 shares of the company’s stock worth $361,000 after acquiring an additional 1,316 shares during the period. Princeton Portfolio Strategies Group LLC grew its holdings in Discovery Communications by 2,242.1% during the second quarter. Princeton Portfolio Strategies Group LLC now owns 180,340 shares of the company’s stock worth $4,658,000 after acquiring an additional 172,640 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Discovery Communications by 437.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after acquiring an additional 3,230 shares during the period. 45.83% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on DISCA shares. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Credit Suisse Group raised Discovery Communications from an “underperform” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.00 in a report on Thursday, September 14th. ValuEngine lowered Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Wells Fargo & Company started coverage on Discovery Communications in a report on Thursday, July 20th. They issued a “market perform” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. Discovery Communications presently has an average rating of “Hold” and an average target price of $26.57.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year.
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In other news, CFO Gunnar Wiedenfels acquired 20,000 shares of Discovery Communications stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $460,200. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul J. Guagliardo acquired 10,000 shares of Discovery Communications stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of $22.71 per share, with a total value of $227,100.00. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $227,100. The disclosure for this purchase can be found here. Insiders have bought 55,000 shares of company stock worth $1,243,300 in the last quarter. 6.81% 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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