Discovery Communications Inc. (DISCA) Position Lowered by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL cut its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,400 shares of the company’s stock after selling 3,800 shares during the period. Virginia Retirement Systems ET AL’s holdings in Discovery Communications were worth $6,989,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC boosted its stake in shares of Discovery Communications by 138,044.4% during the 3rd quarter. NuWave Investment Management LLC now owns 12,433 shares of the company’s stock worth $398,000 after purchasing an additional 12,424 shares during the period. California Public Employees Retirement System boosted its stake in shares of Discovery Communications by 26.4% during the 2nd quarter. California Public Employees Retirement System now owns 359,647 shares of the company’s stock worth $9,890,000 after purchasing an additional 75,219 shares during the period. grace capital purchased a new position in shares of Discovery Communications during the 2nd quarter worth about $3,442,000. CapWealth Advisors LLC purchased a new stake in Discovery Communications in the 2nd quarter valued at about $6,423,000. Finally, Schroder Investment Management Group boosted its position in Discovery Communications by 68.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock valued at $30,080,000 after buying an additional 430,300 shares during the period. 37.19% of the stock is owned by hedge funds and other institutional investors.

Shares of DISCA opened at $32.98 on Friday. Discovery Communications Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $34.89. The company has a market capitalization of $17.28 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.45 and a quick ratio of 1.45.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Discovery Communications had a positive return on equity of 17.68% and a negative net margin of 8.28%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the company posted $0.43 EPS. Discovery Communications’s revenue for the quarter was up 57.0% on a year-over-year basis. As a group, equities analysts expect that Discovery Communications Inc. will post 2.63 EPS for the current year.

DISCA has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Discovery Communications to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, October 10th. They noted that the move was a valuation call. MKM Partners boosted their price objective on shares of Discovery Communications to $40.00 and gave the company a “buy” rating in a research report on Monday, November 5th. Credit Suisse Group raised shares of Discovery Communications from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $40.00 in a research report on Wednesday, October 10th. Zacks Investment Research cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Discovery Communications to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Discovery Communications has an average rating of “Buy” and an average target price of $32.22.

In related news, General Counsel Savalle Sims sold 1,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the completion of the transaction, the general counsel now owns 208 shares in the company, valued at approximately $5,867.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 31,462 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $30.00, for a total transaction of $943,860.00. Following the transaction, the insider now owns 72,256 shares of the company’s stock, valued at approximately $2,167,680. The disclosure for this sale can be found here. Insiders sold a total of 317,374 shares of company stock valued at $8,811,521 in the last ninety days. Corporate insiders own 6.73% of the company’s stock.

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

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