M&T Bank Corp increased its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 30.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,458 shares of the company’s stock after acquiring an additional 4,596 shares during the period. M&T Bank Corp’s holdings in Discovery Communications were worth $434,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of DISCA. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Discovery Communications during the 4th quarter worth approximately $167,000. Flossbach Von Storch AG purchased a new position in Discovery Communications during the 3rd quarter worth $208,000. OLD National Bancorp IN purchased a new position in Discovery Communications during the 3rd quarter worth $222,000. Wasatch Advisors Inc. purchased a new position in Discovery Communications during the 3rd quarter worth $244,000. Finally, Chicago Equity Partners LLC purchased a new position in Discovery Communications during the 4th quarter worth $259,000. 47.37% of the stock is owned by hedge funds and other institutional investors.
In other Discovery Communications news, Director John C. Malone bought 332,523 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were purchased at an average cost of $19.72 per share, for a total transaction of $6,557,353.56. Following the purchase, the director now directly owns 671,095 shares in the company, valued at $13,233,993.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Campbell sold 3,047 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.17, for a total value of $55,363.99. Following the transaction, the insider now owns 43,173 shares in the company, valued at $784,453.41. The disclosure for this sale can be found here. Company insiders own 6.81% of the company’s stock.
Discovery Communications Inc. (NASDAQ:DISCA) opened at $23.80 on Friday. Discovery Communications Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $30.25. The stock has a market capitalization of $9,131.41, a price-to-earnings ratio of 11.58, a PEG ratio of 1.23 and a beta of 1.57. The company has a debt-to-equity ratio of 2.56, a current ratio of 5.87 and a quick ratio of 5.87.
Several research analysts have commented on DISCA shares. Zacks Investment Research downgraded Discovery Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Macquarie upgraded Discovery Communications from a “neutral” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Tuesday, January 2nd. Bank of America upgraded Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, December 21st. Deutsche Bank reduced their price objective on Discovery Communications from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, November 30th. Finally, BidaskClub upgraded Discovery Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.44.
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Discovery Communications Company 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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