Discovery Communications (NASDAQ:DISCA) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $30.00 price target on the stock. Bank of America’s price objective indicates a potential upside of 26.42% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada restated a “buy” rating and issued a $29.00 target price on shares of Discovery Communications in a report on Friday, October 20th. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Needham & Company LLC restated a “hold” rating on shares of Discovery Communications in a report on Thursday, October 12th. Finally, Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Discovery Communications in a research note on Friday, September 8th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Discovery Communications presently has an average rating of “Hold” and an average target price of $24.06.
Discovery Communications (DISCA) opened at $23.73 on Thursday. The stock has a market cap of $8,854.70, a PE ratio of 12.42, a PEG ratio of 1.32 and a beta of 1.55. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56. Discovery Communications has a 1 year low of $15.99 and a 1 year high of $30.25.
In other news, Director J David Wargo purchased 100,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $15.76 per share, with a total value of $1,576,000.00. Following the acquisition, the director now directly owns 147,591 shares in the company, valued at $2,326,034.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average cost of $15.45 per share, with a total value of $231,750.00. Following the completion of the acquisition, 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 acquired 527,523 shares of company stock valued at $9,629,104. Insiders own 6.81% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DISCA. Tower Research Capital LLC TRC raised its position 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 worth $102,000 after purchasing an additional 3,230 shares during the period. Flossbach Von Storch AG purchased a new position in Discovery Communications in the 3rd quarter worth $208,000. OLD National Bancorp IN purchased a new position in Discovery Communications in the 3rd quarter worth $222,000. MUFG Americas Holdings Corp increased its position in shares of Discovery Communications by 13.9% in the second quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock valued at $232,000 after acquiring an additional 1,100 shares during the period. Finally, Advisor Group Inc. increased its position in shares of Discovery Communications by 27.7% in the second quarter. Advisor Group Inc. now owns 9,100 shares of the company’s stock valued at $235,000 after acquiring an additional 1,975 shares during the period. 48.12% of the stock is owned by institutional investors.
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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