Discovery Communications (NASDAQ:DISCK) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
A number of other research firms have also weighed in on DISCK. ValuEngine upgraded Discovery Communications from a “hold” rating to a “buy” rating in a report on Tuesday, October 10th. BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a report on Thursday, December 7th. Finally, Morgan Stanley decreased their price objective on Discovery Communications from $31.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, October 26th. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $25.50.
Several institutional investors and hedge funds have recently modified their holdings of DISCK. Seizert Capital Partners LLC raised its stake in Discovery Communications by 15.9% in the 3rd quarter. Seizert Capital Partners LLC now owns 3,750,499 shares of the company’s stock worth $75,985,000 after acquiring an additional 513,183 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Discovery Communications by 46.0% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,871 shares of the company’s stock worth $463,000 after acquiring an additional 7,208 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in Discovery Communications in the 2nd quarter worth $358,000. United States Steel & Carnegie Pension Fund raised its stake in Discovery Communications by 19.7% in the 3rd quarter. United States Steel & Carnegie Pension Fund now owns 3,043,056 shares of the company’s stock worth $61,652,000 after acquiring an additional 500,000 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Discovery Communications in the 3rd quarter worth $136,312,000. Hedge funds and other institutional investors own 48.23% 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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