Cumberland Partners Ltd lowered its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,750 shares of the company’s stock after selling 3,800 shares during the period. Cumberland Partners Ltd’s holdings in Discovery Communications were worth $3,015,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its position in Discovery Communications by 19.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 33,054 shares of the company’s stock worth $901,000 after buying an additional 5,312 shares during the last quarter. Arizona State Retirement System raised its position in Discovery Communications by 0.8% in the second quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock worth $984,000 after buying an additional 300 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Discovery Communications by 17.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 563,742 shares of the company’s stock worth $14,562,000 after buying an additional 82,427 shares during the last quarter. Blue Sky Asset Management LLC acquired a new position in Discovery Communications during the second quarter worth approximately $1,288,000. Finally, Beach Investment Management LLC. acquired a new position in Discovery Communications during the second quarter worth approximately $254,000. 44.31% of the stock is owned by institutional investors and hedge funds.
Shares of Discovery Communications, Inc. (NASDAQ:DISCA) opened at 23.00 on Friday. Discovery Communications, Inc. has a 52 week low of $22.87 and a 52 week high of $30.25. The firm’s 50-day moving average price is $25.69 and its 200 day moving average price is $27.18. The stock has a market capitalization of $13.11 billion, a P/E ratio of 12.20 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. Analysts expect that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
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Several research analysts have recently issued reports on DISCA shares. Piper Jaffray Companies started coverage on Discovery Communications in a research report on Friday. They issued a “neutral” rating and a $27.00 target price for the company. Pivotal Research raised Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Tuesday. Cowen and Company reissued a “hold” rating and issued a $25.00 target price on shares of Discovery Communications in a research report on Thursday, August 3rd. Barrington Research reissued a “market perform” rating on shares of Discovery Communications in a research report on Wednesday, August 2nd. Finally, MKM Partners reissued a “neutral” rating and issued a $26.00 target price (down previously from $30.00) on shares of Discovery Communications in a research report on Wednesday, August 2nd. Five research 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 company presently has a consensus rating of “Hold” and a consensus price target of $28.25.
In other news, insider Bruce Campbell sold 9,283 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $460,200. The disclosure for this purchase can be found here. 5.78% of the stock is owned by insiders.
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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