Verition Fund Management LLC Takes Position in Discovery Communications, Inc. (DISCA)

Verition Fund Management LLC bought a new position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 23,574 shares of the company’s stock, valued at approximately $609,000.

Several other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Discovery Communications by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Discovery Communications by 0.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,424 shares of the company’s stock valued at $295,000 after buying an additional 102 shares during the last quarter. Advantus Capital Management Inc raised its position in Discovery Communications by 0.9% in the 1st quarter. Advantus Capital Management Inc now owns 15,202 shares of the company’s stock valued at $442,000 after buying an additional 130 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Discovery Communications by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,339 shares of the company’s stock valued at $330,000 after buying an additional 145 shares during the last quarter. Finally, American International Group Inc. raised its position in Discovery Communications by 0.3% in the 1st quarter. American International Group Inc. now owns 73,984 shares of the company’s stock valued at $2,152,000 after buying an additional 192 shares during the last quarter. 45.76% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Verition Fund Management LLC Takes Position in Discovery Communications, Inc. (DISCA)” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2017/10/27/verition-fund-management-llc-buys-new-holdings-in-discovery-communications-inc-disca.html.

In other Discovery Communications news, CFO Gunnar Wiedenfels acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the acquisition, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $759,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul J. Guagliardo acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $227,100. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 55,000 shares of company stock worth $1,243,300. Insiders own 6.81% of the company’s stock.

DISCA has been the subject of a number of analyst reports. Cowen and Company reissued a “hold” rating and issued a $29.00 price target on shares of Discovery Communications in a research report on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $32.00 target price on shares of Discovery Communications in a research report on Friday, July 14th. Deutsche Bank AG reaffirmed a “hold” rating and set a $30.00 target price (down from $32.00) on shares of Discovery Communications in a research report on Friday, July 14th. Wells Fargo & Company began coverage on Discovery Communications in a research report on Thursday, July 20th. They set a “market perform” rating and a $28.00 target price for the company. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $24.00 target price on shares of Discovery Communications in a research report on Saturday, July 22nd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $26.57.

Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded down 0.52% during trading on Friday, hitting $19.24. The company had a trading volume of 1,850,842 shares. The firm’s 50 day moving average is $20.79 and its 200-day moving average is $24.51. The stock has a market capitalization of $10.97 billion, a P/E ratio of 10.21 and a beta of 1.56. Discovery Communications, Inc. has a 52 week low of $18.61 and a 52 week high of $30.25.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that Discovery Communications, Inc. will post $2.22 EPS for the current fiscal year.

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.

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

Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply