Discovery Communications Inc. (NASDAQ:DISCK) was the target of unusually large options trading on Thursday. Stock investors purchased 9,798 put options on the company. This represents an increase of approximately 3,144% compared to the average daily volume of 302 put options.
DISCK has been the subject of several research reports. BidaskClub downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Zacks Investment Research downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Morgan Stanley lowered their price target on shares of Discovery Communications from $31.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Finally, ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $29.00.
Shares of Discovery Communications (DISCK) traded up $0.41 during mid-day trading on Wednesday, reaching $22.68. 1,829,413 shares of the company traded hands, compared to its average volume of 3,293,065. The stock has a market capitalization of $8,289.91, a price-to-earnings ratio of 11.87 and a beta of 1.45. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56. Discovery Communications has a 12 month low of $14.99 and a 12 month high of $29.18.
Large investors have recently bought and sold shares of the company. BB&T Investment Services Inc. acquired a new position in Discovery Communications during the second quarter valued at $102,000. Highlander Capital Management LLC lifted its position in Discovery Communications by 5,747.1% during the fourth quarter. Highlander Capital Management LLC now owns 5,087 shares of the company’s stock valued at $108,000 after purchasing an additional 5,000 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Discovery Communications in the second quarter valued at $196,000. Cohen Klingenstein LLC purchased a new position in Discovery Communications in the fourth quarter valued at $204,000. Finally, Creative Planning purchased a new position in Discovery Communications in the fourth quarter valued at $207,000. Institutional investors and hedge funds own 47.76% of the company’s stock.
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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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