Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 175.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,150 shares of the company’s stock after purchasing an additional 24,950 shares during the quarter. Discovery Communications accounts for approximately 1.0% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings, making the stock its 24th biggest position. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Discovery Communications were worth $1,253,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Northern Trust Corp raised its position in Discovery Communications by 8.1% in the 2nd 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 last quarter. Strs Ohio raised its position in Discovery Communications by 0.5% in the 2nd quarter. Strs Ohio now owns 1,685,726 shares of the company’s stock worth $46,357,000 after buying an additional 8,647 shares during the last quarter. Schroder Investment Management Group raised its position in Discovery Communications by 68.7% in the 2nd 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 last quarter. Unigestion Holding SA purchased a new position in Discovery Communications in the 2nd quarter worth about $23,579,000. Finally, Cumberland Partners Ltd raised its position in Discovery Communications by 26.6% in the 2nd quarter. Cumberland Partners Ltd now owns 660,160 shares of the company’s stock worth $18,155,000 after buying an additional 138,900 shares during the last quarter. 37.19% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on DISCA shares. ValuEngine upgraded Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Macquarie set a $38.00 price target on Discovery Communications and gave the company a “buy” rating in a research note on Friday, September 14th. Credit Suisse Group started coverage on Discovery Communications in a research note on Tuesday, July 10th. They set a “neutral” rating and a $30.00 price target for the company. Barrington Research restated a “buy” rating and set a $30.00 price target on shares of Discovery Communications in a research note on Friday, August 17th. Finally, Royal Bank of Canada boosted their price target on Discovery Communications to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.38.
Shares of NASDAQ:DISCA opened at $33.29 on Wednesday. The company has a market cap of $16.88 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.54 and a beta of 1.24. 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 Inc. has a 12-month low of $15.99 and a 12-month high of $34.06.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data 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 the consensus estimate of $2.85 billion. Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. On average, sell-side analysts expect that Discovery Communications Inc. will post 2.63 earnings per share for the current year.
In related news, Director Kenneth W. Lowe sold 183,621 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 1,331,277 shares in the company, valued at approximately $34,054,065.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Savalle Sims sold 1,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total value of $46,997.86. Following the transaction, the general counsel now owns 208 shares of the company’s stock, valued at $5,867.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 317,374 shares of company stock valued at $8,811,521. 6.73% of the stock is currently owned by corporate insiders.
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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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