JPMorgan Chase & Co. cut its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 50.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,975 shares of the company’s stock after selling 50,544 shares during the period. JPMorgan Chase & Co.’s holdings in Discovery Communications were worth $1,069,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Discovery Communications by 5.2% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock valued at $480,599,000 after purchasing an additional 917,632 shares during the period. Vanguard Group Inc. increased its holdings in shares of Discovery Communications by 5.4% during the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after purchasing an additional 858,015 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Discovery Communications by 12.2% during the third quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock valued at $254,779,000 after purchasing an additional 1,297,175 shares during the period. BlackRock Inc. increased its holdings in shares of Discovery Communications by 2.0% during the second quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock valued at $246,259,000 after purchasing an additional 187,781 shares during the period. Finally, State Street Corp increased its holdings in shares of Discovery Communications by 5.4% during the second quarter. State Street Corp now owns 7,346,135 shares of the company’s stock valued at $189,736,000 after purchasing an additional 376,975 shares during the period. 48.12% of the stock is currently owned by institutional investors.
In other Discovery Communications news, insider Bruce Campbell sold 15,976 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the completion of the sale, the insider now directly owns 85,298 shares in the company, valued at approximately $1,833,907. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John C. Malone acquired 332,523 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were acquired at an average price of $19.72 per share, with a total value of $6,557,353.56. Following the completion of the transaction, the director now directly owns 671,095 shares in the company, valued at approximately $13,233,993.40. The disclosure for this purchase can be found here. Insiders purchased a total of 527,523 shares of company stock valued at $9,629,104 in the last quarter. 6.81% of the stock is currently owned by corporate insiders.
DISCA has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $29.00 price target on shares of Discovery Communications in a report on Friday, October 20th. ValuEngine raised Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Bank of America raised Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Thursday, December 21st. BidaskClub raised Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Finally, Loop Capital decreased their target price on Discovery Communications from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.17.
Discovery Communications Inc. (NASDAQ:DISCA) opened at $24.33 on Friday. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87. Discovery Communications Inc. has a 1 year low of $15.99 and a 1 year high of $30.25. The firm has a market capitalization of $9,101.09, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.20 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last released its quarterly 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). Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business earned $0.47 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts expect that Discovery Communications Inc. will post 1.94 earnings per share for the current fiscal year.
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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.
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