Moody National Bank Trust Division increased its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 1,052.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,485 shares of the company’s stock after buying an additional 162,995 shares during the quarter. Moody National Bank Trust Division’s holdings in Discovery Communications were worth $5,712,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in Discovery Communications by 26.4% in the 2nd quarter. California Public Employees Retirement System now owns 359,647 shares of the company’s stock valued at $9,890,000 after purchasing an additional 75,219 shares during the last quarter. NuWave Investment Management LLC raised its holdings in shares of Discovery Communications by 138,044.4% in the third quarter. NuWave Investment Management LLC now owns 12,433 shares of the company’s stock valued at $398,000 after buying an additional 12,424 shares during the last quarter. grace capital purchased a new stake in shares of Discovery Communications in the second quarter valued at about $3,442,000. CapWealth Advisors LLC purchased a new stake in shares of Discovery Communications in the second quarter valued at about $6,423,000. Finally, Andra AP fonden raised its holdings in shares of Discovery Communications by 23.3% in the third quarter. Andra AP fonden now owns 216,700 shares of the company’s stock valued at $6,934,000 after buying an additional 41,000 shares during the last quarter. 37.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Credit Suisse Group raised shares of Discovery Communications from a “neutral” rating to an “outperform” rating and upped their target price for the company from $30.00 to $40.00 in a report on Wednesday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Discovery Communications to $38.00 and gave the company an “overweight” rating in a report on Wednesday, October 10th. They noted that the move was a valuation call. Macquarie set a $38.00 target price on shares of Discovery Communications and gave the company a “buy” rating in a report on Friday, September 14th. Pivotal Research cut shares of Discovery Communications from a “hold” rating to a “sell” rating and set a $26.00 target price for the company. in a report on Tuesday, September 18th. Finally, Zacks Investment Research raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.53.
In other Discovery Communications news, General Counsel Savalle Sims sold 1,666 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the transaction, the general counsel now directly owns 208 shares in the company, valued at $5,867.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth W. Lowe sold 183,621 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $25.58, for a total transaction of $4,697,025.18. Following the transaction, the director now owns 1,331,277 shares in the company, valued at $34,054,065.66. The disclosure for this sale can be found here. Insiders have sold 317,374 shares of company stock worth $8,811,521 over the last 90 days. 6.73% of the stock is currently owned by company insiders.
NASDAQ DISCA opened at $33.05 on Friday. The stock has a market cap of $16.33 billion, a P/E ratio of 14.75, a PEG ratio of 0.53 and a beta of 1.44. Discovery Communications Inc. has a 52-week low of $15.99 and a 52-week high of $34.06. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.45 and a quick ratio of 1.45.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Tuesday, August 7th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.18). Discovery Communications had a positive return on equity of 17.68% and a negative net margin of 8.28%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.85 billion. As a group, sell-side analysts predict that Discovery Communications Inc. will post 2.63 EPS for the current fiscal year.
Discovery Communications Profile
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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