USA Financial Portformulas Corp acquired a new stake in Discovery Communications, Inc. (NASDAQ:DISCA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,742 shares of the company’s stock, valued at approximately $335,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DISCA. Gabelli Funds LLC increased its stake in shares of Discovery Communications by 0.8% during the 3rd quarter. Gabelli Funds LLC now owns 527,700 shares of the company’s stock worth $11,235,000 after purchasing an additional 4,000 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Discovery Communications by 22.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,857 shares of the company’s stock worth $508,000 after purchasing an additional 4,333 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Discovery Communications during the 3rd quarter worth about $943,000. Empirical Finance LLC bought a new stake in shares of Discovery Communications during the 3rd quarter worth about $1,096,000. Finally, Cumberland Partners Ltd boosted its holdings in shares of Discovery Communications by 201.9% during the 3rd quarter. Cumberland Partners Ltd now owns 352,500 shares of the company’s stock worth $7,505,000 after buying an additional 235,750 shares during the period. 46.23% of the stock is currently owned by institutional investors.
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Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded up $0.79 during trading on Monday, reaching $17.55. 6,901,800 shares of the company’s stock traded hands, compared to its average volume of 3,713,052. Discovery Communications, Inc. has a twelve month low of $15.99 and a twelve month high of $30.25. The company has a market capitalization of $6,440.00, a price-to-earnings ratio of 8.44, a PEG ratio of 0.94 and a beta of 1.57. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. analysts anticipate that Discovery Communications, Inc. will post 2.05 EPS for the current year.
A number of analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 price objective (down previously from $29.00) on shares of Discovery Communications in a report on Friday, November 3rd. Barclays PLC lowered their price objective on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, October 13th. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Credit Suisse Group decreased their price target on shares of Discovery Communications from $22.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, November 6th. Finally, UBS AG upgraded shares of Discovery Communications from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $23.00 in a research report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.27.
In related news, CFO Gunnar Wiedenfels acquired 15,000 shares of Discovery Communications stock in a transaction on Friday, November 3rd. The shares were acquired at an average cost of $15.45 per share, with a total value of $231,750.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $772,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director J David Wargo bought 100,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average price of $15.76 per share, for a total transaction of $1,576,000.00. Following the acquisition, the director now owns 147,591 shares in the company, valued at approximately $2,326,034.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 195,000 shares of company stock worth $3,071,750. 6.81% of the stock is owned by insiders.
Discovery Communications Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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