Discovery Communications Inc. (NASDAQ:DISCA) saw a significant drop in short interest during the month of December. As of December 29th, there was short interest totalling 34,210,851 shares, a drop of 8.1% from the December 15th total of 37,207,510 shares. Approximately 22.7% of the shares of the company are short sold. Based on an average daily trading volume, of 5,902,244 shares, the days-to-cover ratio is presently 5.8 days.

Several equities research analysts have commented on DISCA shares. UBS Group upgraded shares of Discovery Communications from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $23.00 in a research report on Tuesday, September 26th. Zacks Investment Research cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Needham & Company LLC reiterated a “hold” rating on shares of Discovery Communications in a research report on Thursday, October 12th. Finally, Barclays dropped their price target on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Discovery Communications has a consensus rating of “Hold” and an average price target of $24.17.

Discovery Communications (NASDAQ DISCA) opened at $24.33 on Friday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. Discovery Communications has a 12 month low of $15.99 and a 12 month high of $30.25. The firm has a market capitalization of $8,800.00, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.10 and a beta of 1.56.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. equities research analysts forecast that Discovery Communications will post 1.94 earnings per share for the current year.

In related news, insider Bruce Campbell sold 15,976 shares of Discovery Communications stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.50, for a total transaction of $343,484.00. Following the sale, the insider now directly owns 85,298 shares in the company, valued at $1,833,907. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Malone acquired 332,523 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average price of $19.72 per share, for a total transaction of $6,557,353.56. Following the completion of the purchase, the director now owns 671,095 shares of the company’s stock, valued at $13,233,993.40. The disclosure for this purchase can be found here. Insiders acquired 527,523 shares of company stock worth $9,629,104 over the last quarter. 6.81% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in Discovery Communications by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock worth $398,758,000 after purchasing an additional 123,603 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Discovery Communications by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after purchasing an additional 858,015 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Discovery Communications by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock worth $254,779,000 after purchasing an additional 1,297,175 shares during the last quarter. BlackRock Inc. lifted its holdings in Discovery Communications by 2.0% in the 2nd quarter. BlackRock Inc. now owns 9,533,783 shares of the company’s stock worth $246,259,000 after purchasing an additional 187,781 shares during the last quarter. Finally, State Street Corp lifted its holdings in Discovery Communications by 5.4% in the 2nd quarter. State Street Corp now owns 7,346,135 shares of the company’s stock worth $189,736,000 after purchasing an additional 376,975 shares during the last quarter. Institutional investors and hedge funds own 48.12% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Discovery Communications Inc. (DISCA) Short Interest Update” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2018/01/13/discovery-communications-inc-disca-short-interest-update.html.

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.

Receive News & Ratings for Discovery Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications and related companies with MarketBeat.com's FREE daily email newsletter.