Chevy Chase Trust Holdings Inc. Trims Position in Discovery Communications Inc. (DISCA)

Chevy Chase Trust Holdings Inc. lessened its holdings in Discovery Communications Inc. (NASDAQ:DISCA) by 2.3% during the 3rd quarter, Holdings Channel reports. The firm owned 128,952 shares of the company’s stock after selling 3,014 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Discovery Communications were worth $4,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DISCA. Unigestion Holding SA purchased a new position in Discovery Communications during the second quarter worth $23,579,000. Schroder Investment Management Group boosted its stake in Discovery Communications by 68.7% during the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock worth $30,080,000 after buying an additional 430,300 shares during the period. CapWealth Advisors LLC purchased a new position in Discovery Communications during the second quarter worth $6,423,000. BNP Paribas Arbitrage SA boosted its stake in Discovery Communications by 189.4% during the second quarter. BNP Paribas Arbitrage SA now owns 330,563 shares of the company’s stock worth $9,090,000 after buying an additional 216,336 shares during the period. Finally, Northern Trust Corp boosted its stake in Discovery Communications by 8.1% during the second quarter. Northern Trust Corp now owns 2,013,314 shares of the company’s stock worth $55,366,000 after buying an additional 150,291 shares during the period. Institutional investors own 37.33% of the company’s stock.

Shares of DISCA opened at $32.31 on Friday. The firm has a market cap of $16.88 billion, a PE ratio of 14.42, a P/E/G ratio of 0.54 and a beta of 1.24. Discovery Communications Inc. has a 12-month low of $15.99 and a 12-month high of $34.06. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.84.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Tuesday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.18). The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. Analysts predict that Discovery Communications Inc. will post 2.63 EPS for the current year.

Several research analysts have commented on the stock. Imperial Capital dropped their price objective on shares of Discovery Communications from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, August 8th. Barrington Research reaffirmed a “buy” rating and set a $30.00 price objective on shares of Discovery Communications in a research note on Friday, August 17th. ValuEngine lowered shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Finally, Pivotal Research reissued a “hold” rating and set a $26.00 target price on shares of Discovery Communications in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $31.09.

In related news, General Counsel Savalle Sims sold 1,666 shares of Discovery Communications stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $28.21, for a total value of $46,997.86. Following the completion of the sale, the general counsel now directly owns 208 shares in the company, valued at $5,867.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth W. Lowe sold 183,621 shares of Discovery Communications stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $25.58, for a total value of $4,697,025.18. Following the completion of the sale, the director now owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The disclosure for this sale can be found here. Insiders have sold 317,374 shares of company stock valued at $8,811,521 over the last three months. Insiders own 6.73% of the company’s stock.

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

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