Reinhart Partners Inc. cut its position in Discovery Communications Inc. (NASDAQ:DISCA) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 989,316 shares of the company’s stock after selling 26,977 shares during the quarter. Discovery Communications accounts for about 2.4% of Reinhart Partners Inc.’s holdings, making the stock its 12th biggest holding. Reinhart Partners Inc. owned about 0.18% of Discovery Communications worth $26,345,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Discovery Communications by 12.4% in the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock worth $592,608,000 after purchasing an additional 2,134,191 shares in the last quarter. BlackRock Inc. increased its holdings in Discovery Communications by 0.8% in the second quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock worth $328,218,000 after purchasing an additional 85,421 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Discovery Communications by 62.7% in the second quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock worth $106,015,000 after purchasing an additional 1,330,279 shares in the last quarter. Northern Trust Corp increased its holdings in Discovery Communications by 6.5% in the second quarter. Northern Trust Corp now owns 2,535,004 shares of the company’s stock worth $77,825,000 after purchasing an additional 154,878 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Discovery Communications by 790.2% in the second quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock worth $54,207,000 after purchasing an additional 1,567,374 shares in the last quarter. Hedge funds and other institutional investors own 34.02% of the company’s stock.
A number of brokerages have commented on DISCA. Rosenblatt Securities began coverage on Discovery Communications in a research note on Sunday, November 3rd. They issued a “hold” rating and a $30.00 price objective for the company. BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. ValuEngine raised Discovery Communications from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Co began coverage on Discovery Communications in a research note on Monday, September 23rd. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, Imperial Capital raised Discovery Communications from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $29.00 to $34.00 in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Discovery Communications currently has an average rating of “Hold” and a consensus target price of $34.70.
Shares of DISCA traded down $0.13 during mid-day trading on Friday, hitting $30.90. The stock had a trading volume of 8,144,300 shares, compared to its average volume of 3,928,025. The business has a fifty day moving average price of $27.40 and a 200-day moving average price of $28.74. Discovery Communications Inc. has a 52 week low of $23.79 and a 52 week high of $34.47. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $15.03 billion, a P/E ratio of 14.64, a PEG ratio of 0.40 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Discovery Communications Inc. will post 3.62 earnings per share for the current fiscal year.
In other Discovery Communications news, Director Daniel E. Sanchez sold 1,059 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $28.40, for a total transaction of $30,075.60. Following the completion of the transaction, the director now owns 16,789 shares of the company’s stock, valued at approximately $476,807.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Savalle Sims sold 3,085 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.18, for a total value of $93,105.30. Following the transaction, the general counsel now directly owns 46,388 shares of the company’s stock, valued at approximately $1,399,989.84. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.
Discovery Communications Company 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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