Discovery Communications (NASDAQ:DISCA) had its target price cut by Deutsche Bank from $26.00 to $21.00 in a research report released on Thursday morning, Marketbeat reports. They currently have a hold rating on the stock.
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an outperform rating and issued a $24.00 price target (down from $29.00) on shares of Discovery Communications in a report on Friday, November 3rd. Pivotal Research raised shares of Discovery Communications from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Tuesday, August 8th. MKM Partners reaffirmed a neutral rating and issued a $26.00 price target (down from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. UBS raised shares of Discovery Communications from a sell rating to a neutral rating and lowered their price target for the company from $25.00 to $23.00 in a report on Tuesday, September 26th. Finally, Jefferies Group lowered their price target on shares of Discovery Communications from $27.00 to $20.00 and set a hold rating on the stock in a report on Friday, November 3rd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $23.67.
Shares of Discovery Communications (NASDAQ:DISCA) traded up $0.44 on Thursday, hitting $19.46. 11,037,600 shares of the stock were exchanged, compared to its average volume of 3,809,814. The stock has a market capitalization of $7,376.39, a price-to-earnings ratio of 9.36, a PEG ratio of 1.08 and a beta of 1.55. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. Discovery Communications has a 12-month low of $15.99 and a 12-month high of $30.25.
In related news, Director J David Wargo purchased 80,000 shares of Discovery Communications stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average price of $15.80 per share, for a total transaction of $1,264,000.00. Following the transaction, the director now directly owns 147,591 shares in the company, valued at $2,331,937.80. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of Discovery Communications stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price 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 disclosure for this purchase can be found here. Over the last three months, insiders have bought 195,000 shares of company stock worth $3,071,750. Corporate insiders own 6.81% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock valued at $102,000 after acquiring an additional 3,230 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Discovery Communications in the 2nd quarter valued at about $133,000. Flossbach Von Storch AG acquired a new stake in Discovery Communications in the 3rd quarter valued at about $208,000. Montag A & Associates Inc. acquired a new stake in Discovery Communications in the 2nd quarter valued at about $209,000. Finally, OLD National Bancorp IN acquired a new stake in Discovery Communications in the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 48.25% of the company’s stock.
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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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