First Manhattan Co. raised its stake in Discovery Communications, Inc. (NASDAQ:DISCK) by 30.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,806,374 shares of the company’s stock after buying an additional 651,642 shares during the period. First Manhattan Co. owned about 0.63% of Discovery Communications worth $70,748,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of DISCK. Meeder Asset Management Inc. acquired a new stake in Discovery Communications during the first quarter valued at approximately $178,000. Daiwa Securities Group Inc. increased its position in shares of Discovery Communications by 17.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company’s stock valued at $180,000 after buying an additional 950 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Discovery Communications by 1,035.8% in the first quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock valued at $187,000 after buying an additional 6,039 shares in the last quarter. Trust Co. of Oklahoma purchased a new position in shares of Discovery Communications during the first quarter valued at about $209,000. Finally, Weik Investment Services Inc. purchased a new position in shares of Discovery Communications during the first quarter valued at about $209,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.
Discovery Communications, Inc. (DISCK) traded up 1.05% on Friday, hitting $21.25. 2,865,659 shares of the stock traded hands. The company has a market capitalization of $12.11 billion, a PE ratio of 11.27 and a beta of 1.47. Discovery Communications, Inc. has a 12 month low of $20.90 and a 12 month high of $29.18. The firm has a 50-day moving average price of $24.12 and a 200-day moving average price of $26.18.
Discovery Communications (NASDAQ:DISCK) last released its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $1.75 billion during the quarter. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. Analysts forecast that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
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Several brokerages have recently issued reports on DISCK. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet downgraded shares of Discovery Communications from a “b-” rating to a “c+” rating in a research note on Wednesday, May 17th. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, ValuEngine cut shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Discovery Communications currently has an average rating of “Hold” and a consensus price target of $29.00.
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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