Discovery Communications (DISCK) Trading 6.1% Higher

Discovery Communications, Inc. (NASDAQ:DISCK)’s share price traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $19.78 and last traded at $19.52. 9,746,700 shares were traded during trading, an increase of 321% from the average session volume of 2,316,885 shares. The stock had previously closed at $18.40.

A number of research firms recently issued reports on DISCK. Zacks Investment Research cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Morgan Stanley reduced their price target on Discovery Communications from $31.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. Finally, BidaskClub lowered shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Discovery Communications presently has a consensus rating of “Hold” and a consensus target price of $25.50.

The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $7,039.03, a P/E ratio of 8.93 and a beta of 1.42.

A number of hedge funds have recently made changes to their positions in DISCK. State of Wisconsin Investment Board purchased a new position in shares of Discovery Communications in the 3rd quarter worth about $136,312,000. Prudential Financial Inc. grew its stake in Discovery Communications by 207.2% in the third quarter. Prudential Financial Inc. now owns 2,588,195 shares of the company’s stock valued at $52,437,000 after purchasing an additional 1,745,767 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Discovery Communications by 25.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,362,821 shares of the company’s stock valued at $149,171,000 after purchasing an additional 1,484,500 shares in the last quarter. Private Management Group Inc. purchased a new position in Discovery Communications in the third quarter valued at about $27,985,000. Finally, Mackenzie Financial Corp purchased a new position in Discovery Communications in the third quarter valued at about $27,157,000. 48.43% of the stock is currently owned by hedge funds and other institutional investors.

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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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