Discovery Communications Inc. (DISCA) Short Interest Update

Discovery Communications Inc. (NASDAQ:DISCA) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 31,450,459 shares, an increase of 7.7% from the October 15th total of 29,188,796 shares. Based on an average trading volume of 4,776,019 shares, the short-interest ratio is currently 6.6 days. Approximately 20.7% of the company’s stock are sold short.

In other news, Director Kenneth W. Lowe sold 183,621 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $25.58, for a total transaction of $4,697,025.18. Following the completion of the sale, the director now directly owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 31,462 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $30.00, for a total transaction of $943,860.00. Following the sale, the insider now directly owns 72,256 shares of the company’s stock, valued at $2,167,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,374 shares of company stock valued at $8,811,521. 6.73% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DISCA. First Mercantile Trust Co. lifted its stake in shares of Discovery Communications by 14.8% during the 3rd quarter. First Mercantile Trust Co. now owns 12,045 shares of the company’s stock valued at $385,000 after buying an additional 1,555 shares in the last quarter. Comerica Bank lifted its stake in shares of Discovery Communications by 5.3% during the 2nd quarter. Comerica Bank now owns 39,260 shares of the company’s stock valued at $1,036,000 after buying an additional 1,989 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Discovery Communications by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 532,700 shares of the company’s stock valued at $17,046,000 after buying an additional 2,000 shares in the last quarter. ING Groep NV lifted its stake in shares of Discovery Communications by 12.4% during the 3rd quarter. ING Groep NV now owns 18,780 shares of the company’s stock valued at $601,000 after buying an additional 2,070 shares in the last quarter. Finally, Morningstar Investment Services LLC lifted its stake in shares of Discovery Communications by 16.0% during the 3rd quarter. Morningstar Investment Services LLC now owns 15,087 shares of the company’s stock valued at $483,000 after buying an additional 2,077 shares in the last quarter. Hedge funds and other institutional investors own 37.19% of the company’s stock.

Shares of DISCA stock opened at $32.98 on Friday. Discovery Communications has a 52-week low of $15.99 and a 52-week high of $34.89. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.56 and a beta of 1.24.

Discovery Communications (NASDAQ:DISCA) last released its earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. The firm’s revenue was up 57.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities analysts expect that Discovery Communications will post 2.63 EPS for the current year.

DISCA has been the subject of a number of recent analyst reports. Barrington Research reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Discovery Communications in a research report on Friday, August 17th. ValuEngine downgraded shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 19th. Imperial Capital reduced 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 report on Wednesday, August 8th. Pivotal Research reaffirmed a “sell” rating and issued a $27.00 price objective (up from $26.00) on shares of Discovery Communications in a research report on Friday. Finally, Zacks Investment Research downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.22.

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Discovery Communications Company 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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