Discovery Communications Inc. (DISCA) Sees Significant Drop in Short Interest

Discovery Communications Inc. (NASDAQ:DISCA) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 33,307,671 shares, a decrease of 8.7% from the January 12th total of 36,481,895 shares. Based on an average daily trading volume, of 4,426,550 shares, the days-to-cover ratio is presently 7.5 days. Approximately 22.1% of the company’s stock are sold short.

Discovery Communications (DISCA) opened at $22.61 on Friday. The company has a market cap of $8,350.00, a PE ratio of 17.80, a PEG ratio of 1.18 and a beta of 1.59. Discovery Communications has a 1-year low of $15.99 and a 1-year high of $30.25. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56.

In related news, Director John C. Malone acquired 332,523 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $19.72 per share, for a total transaction of $6,557,353.56. Following the purchase, the director now owns 671,095 shares in the company, valued at $13,233,993.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Campbell sold 3,047 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $18.17, for a total transaction of $55,363.99. Following the completion of the transaction, the insider now owns 43,173 shares in the company, valued at approximately $784,453.41. The disclosure for this sale can be found here. 6.81% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Cowen Inc. acquired a new stake in shares of Discovery Communications during the 3rd quarter worth about $5,880,000. USA Financial Portformulas Corp acquired a new stake in Discovery Communications in the 3rd quarter valued at about $335,000. Reinhart Partners Inc. increased its position in Discovery Communications by 41.4% in the 4th quarter. Reinhart Partners Inc. now owns 1,270,171 shares of the company’s stock valued at $28,426,000 after acquiring an additional 372,184 shares in the last quarter. FDx Advisors Inc. increased its position in Discovery Communications by 169.5% in the 3rd quarter. FDx Advisors Inc. now owns 25,243 shares of the company’s stock valued at $537,000 after acquiring an additional 15,875 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Discovery Communications by 5.9% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,841,677 shares of the company’s stock valued at $39,210,000 after acquiring an additional 102,889 shares in the last quarter. 48.00% of the stock is owned by institutional investors.

Several research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price target (down previously from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Barrington Research upgraded shares of Discovery Communications from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 2nd. Jefferies Group dropped their price target on shares of Discovery Communications from $27.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. BidaskClub upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America upgraded shares of Discovery Communications from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, December 21st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.44.

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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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