Highbridge Capital Management LLC increased its position in Discovery Communications Inc. (NASDAQ:DISCA) by 4,059.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,076 shares of the company’s stock after acquiring an additional 52,776 shares during the quarter. Highbridge Capital Management LLC’s holdings in Discovery Communications were worth $1,730,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Mercantile Trust Co. lifted its position in Discovery Communications by 14.8% during the third quarter. First Mercantile Trust Co. now owns 12,045 shares of the company’s stock valued at $385,000 after purchasing an additional 1,555 shares during the last quarter. Comerica Bank lifted its position in Discovery Communications by 5.3% during the second quarter. Comerica Bank now owns 39,260 shares of the company’s stock valued at $1,036,000 after purchasing an additional 1,989 shares during the last quarter. Gabelli Funds LLC lifted its position in Discovery Communications by 0.4% during the third quarter. Gabelli Funds LLC now owns 532,700 shares of the company’s stock valued at $17,046,000 after purchasing an additional 2,000 shares during the last quarter. ING Groep NV lifted its position in Discovery Communications by 12.4% during the third quarter. ING Groep NV now owns 18,780 shares of the company’s stock valued at $601,000 after purchasing an additional 2,070 shares during the last quarter. Finally, Morningstar Investment Services LLC lifted its position in Discovery Communications by 16.0% during the third quarter. Morningstar Investment Services LLC now owns 15,087 shares of the company’s stock valued at $483,000 after purchasing an additional 2,077 shares during the last quarter. Institutional investors own 41.80% of the company’s stock.
DISCA stock opened at $28.93 on Friday. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.41 and a beta of 1.24. Discovery Communications Inc. has a one year low of $19.11 and a one year high of $34.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.61.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Discovery Communications had a positive return on equity of 17.05% and a negative net margin of 8.52%. The company’s revenue was up 57.0% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. On average, analysts anticipate that Discovery Communications Inc. will post 2.67 EPS for the current year.
In related news, General Counsel Savalle Sims sold 1,666 shares of Discovery Communications stock in a transaction 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 directly owns 208 shares of the company’s stock, valued at $5,867.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth W. Lowe sold 58,000 shares of Discovery Communications stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $28.88, for a total transaction of $1,675,040.00. Following the completion of the transaction, the director now directly owns 1,236,060 shares in the company, valued at $35,697,412.80. The disclosure for this sale can be found here. Insiders have sold 281,031 shares of company stock worth $8,506,185 over the last three months. Insiders own 6.73% of the company’s stock.
Several equities research analysts have issued reports on DISCA shares. Citigroup lifted their target price on shares of Discovery Communications from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. BidaskClub upgraded shares of Discovery Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 17th. Barrington Research reiterated a “buy” rating and set a $30.00 target price on shares of Discovery Communications in a research report on Friday, August 17th. Jefferies Financial Group upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, August 21st. Finally, Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Discovery Communications presently has an average rating of “Buy” and a consensus price target of $32.79.
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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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