WealthPLAN Partners LLC Increases Position in Discovery Communications Inc. (NASDAQ:DISCA)

WealthPLAN Partners LLC increased its holdings in Discovery Communications Inc. (NASDAQ:DISCA) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 97,508 shares of the company’s stock after buying an additional 2,069 shares during the period. WealthPLAN Partners LLC’s holdings in Discovery Communications were worth $2,706,000 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. JPMorgan Chase & Co. increased its position in Discovery Communications by 17.4% during the first quarter. JPMorgan Chase & Co. now owns 10,743,754 shares of the company’s stock valued at $290,295,000 after acquiring an additional 1,595,179 shares during the last quarter. FMR LLC increased its position in Discovery Communications by 10.4% during the fourth quarter. FMR LLC now owns 13,217,760 shares of the company’s stock valued at $327,007,000 after acquiring an additional 1,243,094 shares during the last quarter. BlackRock Inc. increased its position in Discovery Communications by 11.8% during the fourth quarter. BlackRock Inc. now owns 10,885,778 shares of the company’s stock valued at $269,315,000 after acquiring an additional 1,151,368 shares during the last quarter. TCW Group Inc. increased its position in Discovery Communications by 2,789.9% during the first quarter. TCW Group Inc. now owns 1,142,859 shares of the company’s stock valued at $30,880,000 after acquiring an additional 1,103,312 shares during the last quarter. Finally, Todd Asset Management LLC bought a new position in Discovery Communications during the first quarter valued at $14,739,000. Institutional investors own 34.42% of the company’s stock.

In related news, insider Bruce Campbell sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total value of $288,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Faricy acquired 35,900 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $27.91 per share, with a total value of $1,001,969.00. Following the completion of the purchase, the chief executive officer now owns 182,367 shares of the company’s stock, valued at $5,089,862.97. The disclosure for this purchase can be found here. 4.43% of the stock is currently owned by insiders.

A number of research analysts have weighed in on the stock. ValuEngine cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. BidaskClub cut shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Wolfe Research cut shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. Barrington Research reiterated a “buy” rating and set a $40.00 price objective on shares of Discovery Communications in a research report on Tuesday, February 26th. Finally, Credit Suisse Group boosted their price objective on shares of Discovery Communications from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.89.

Shares of DISCA traded up $0.17 during trading hours on Monday, reaching $29.19. 41,314 shares of the company traded hands, compared to its average volume of 3,448,857. The firm has a market capitalization of $15.23 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.40 and a beta of 1.42. Discovery Communications Inc. has a 12-month low of $23.79 and a 12-month high of $34.89. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.45.

Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Thursday, May 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.72 billion. Discovery Communications had a net margin of 9.00% and a return on equity of 20.10%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Analysts predict that Discovery Communications Inc. will post 3.81 earnings per share for the current year.

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Discovery Communications Profile

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, 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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