Discovery Communications Inc. (DISCA) Shares Bought by Korea Investment CORP

Korea Investment CORP boosted its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 309.2% in the third quarter, HoldingsChannel.com reports. The fund owned 212,008 shares of the company’s stock after purchasing an additional 160,200 shares during the period. Korea Investment CORP’s holdings in Discovery Communications were worth $6,784,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its position in shares of Discovery Communications by 6.4% in the second quarter. Janney Montgomery Scott LLC now owns 80,984 shares of the company’s stock valued at $2,227,000 after purchasing an additional 4,848 shares during the period. Dupont Capital Management Corp raised its position in shares of Discovery Communications by 108.8% in the second quarter. Dupont Capital Management Corp now owns 6,010 shares of the company’s stock valued at $165,000 after purchasing an additional 3,132 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Discovery Communications by 6.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 483,793 shares of the company’s stock valued at $13,304,000 after purchasing an additional 28,151 shares during the period. Comerica Bank raised its position in shares of Discovery Communications by 5.3% in the second quarter. Comerica Bank now owns 39,260 shares of the company’s stock valued at $1,036,000 after purchasing an additional 1,989 shares during the period. Finally, Sandy Spring Bank raised its position in shares of Discovery Communications by 6.7% in the second quarter. Sandy Spring Bank now owns 45,674 shares of the company’s stock valued at $1,256,000 after purchasing an additional 2,870 shares during the period. Institutional investors own 41.80% of the company’s stock.

Discovery Communications stock opened at $28.20 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $16.08 billion, a P/E ratio of 14.09, a PEG ratio of 0.43 and a beta of 1.25. Discovery Communications Inc. has a 1-year low of $19.03 and a 1-year high of $34.89.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). Discovery Communications had a positive return on equity of 17.05% and a negative net margin of 8.52%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the prior year, the firm earned $0.43 EPS. Discovery Communications’s quarterly revenue was up 57.0% on a year-over-year basis. Research analysts expect that Discovery Communications Inc. will post 2.67 EPS for the current year.

In other Discovery Communications news, insider David Leavy sold 39,278 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $31.65, for a total value of $1,243,148.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth W. Lowe sold 58,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $28.88, for a total transaction of $1,675,040.00. Following the completion of the transaction, the director now directly owns 1,236,060 shares of the company’s stock, valued at approximately $35,697,412.80. The disclosure for this sale can be found here. In the last three months, insiders sold 464,652 shares of company stock valued at $13,203,210. Corporate insiders own 6.73% of the company’s stock.

Several research firms have recently issued reports on DISCA. Pivotal Research reissued a “sell” rating and issued a $27.00 price target (up previously from $26.00) on shares of Discovery Communications in a research report on Friday, November 9th. ValuEngine raised shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Macquarie set a $38.00 target price on shares of Discovery Communications and gave the stock a “buy” rating in a report on Friday, September 14th. Barrington Research reaffirmed a “buy” rating and set a $30.00 target price on shares of Discovery Communications in a report on Friday, August 17th. Finally, Royal Bank of Canada upped their target price on shares of Discovery Communications to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.15.

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Discovery Communications Company Profile

Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Communications Inc. (NASDAQ:DISCA).

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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