Russell Investments Group Ltd. cut its holdings in Discovery Communications, Inc. (NASDAQ:DISCA) by 31.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,930 shares of the company’s stock after selling 31,472 shares during the quarter. Russell Investments Group Ltd.’s holdings in Discovery Communications were worth $1,784,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. boosted its holdings in Discovery Communications by 5.8% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock worth $106,000 after buying an additional 215 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Discovery Communications by 24.7% during the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after buying an additional 900 shares during the last quarter. Acadian Asset Management LLC bought a new position in Discovery Communications during the first quarter worth about $134,000. Ameritas Investment Partners Inc. bought a new position in Discovery Communications during the first quarter worth about $182,000. Finally, Horizon Investment Services LLC bought a new position in Discovery Communications during the first quarter worth about $202,000. Institutional investors and hedge funds own 45.85% of the company’s stock.
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Several research firms have recently weighed in on DISCA. BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Cowen and Company reissued a “hold” rating and issued a $29.00 target price on shares of Discovery Communications in a research report on Tuesday, July 11th. Moffett Nathanson reissued a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. Piper Jaffray Companies started coverage on Discovery Communications in a research report on Friday, August 11th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $32.00 target price on shares of Discovery Communications in a research report on Friday, July 14th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.27.
In other Discovery Communications news, insider Paul J. Guagliardo acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average cost of $22.71 per share, with a total value of $227,100.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at approximately $227,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by insiders.
Shares of Discovery Communications, Inc. (DISCA) traded up 0.67% during midday trading on Wednesday, hitting $21.14. The company had a trading volume of 1,450,432 shares. The firm’s 50 day moving average is $23.18 and its 200 day moving average is $26.17. Discovery Communications, Inc. has a 52 week low of $20.53 and a 52 week high of $30.25. The company has a market capitalization of $12.05 billion, a P/E ratio of 11.21 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Discovery Communications, Inc. will post $2.24 EPS for the current year.
About Discovery Communications
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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