Insider Selling: Discovery Communications CAO Sells 7,302 Shares of Stock (DISCA)
Discovery Communications (NASDAQ:DISCA) CAO Kurt Wehner sold 7,302 shares of the stock on the open market in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $43.62, for a total transaction of $318,513.24. Following the completion of the transaction, the chief accounting officer now directly owns 2,014 shares of the company’s stock, valued at approximately $87,851. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on DISCA. Analysts at Barclays cut their price target on shares of Discovery Communications from $87.00 to $48.00 in a research note on Thursday, August 21st. They now have an “overweight” rating on the stock. Separately, analysts at Guggenheim downgraded shares of Discovery Communications from a “buy” rating to a “neutral” rating in a research note on Friday, August 1st. They now have a $92.00 price target on the stock, up previously from $89.00. Finally, analysts at Evercore Partners raised their price target on shares of Discovery Communications from $84.00 to $90.00 in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $88.60.
Shares of Discovery Communications (NASDAQ:DISCA) traded down 0.05% on Thursday, hitting $43.76. 2,051,967 shares of the company’s stock traded hands. Discovery Communications has a 52-week low of $36.5662 and a 52-week high of $46.3771. The stock has a 50-day moving average of $42.78 and a 200-day moving average of $40.9. The company has a market cap of $30.019 billion and a P/E ratio of 26.88. Discovery Communications also was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 8,097,492 shares, a growth of 26.6% from the July 31st total of 6,394,363 shares. Based on an average daily trading volume, of 2,360,159 shares, the short-interest ratio is presently 3.4 days. Approximately 5.6% of the shares of the company are short sold.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.95 by $0.21. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.82 earnings per share. Discovery Communications’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Discovery Communications will post $1.86 EPS for the current fiscal year.
Discovery Communications, Inc (NASDAQ:DISCA) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide.
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