Discovery Communications Inc. (DISCA) Short Interest Update
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.
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.
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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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