Brown Advisory Inc. reduced its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,458 shares of the company’s stock after selling 4,796 shares during the period. Brown Advisory Inc.’s holdings in Discovery Communications were worth $2,767,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. NuWave Investment Management LLC increased its stake in shares of Discovery Communications by 138,044.4% in the third 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 increased its stake in shares of Discovery Communications by 26.4% in the second 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 bought a new position in shares of Discovery Communications in the second quarter worth about $3,442,000. CapWealth Advisors LLC bought a new position in shares of Discovery Communications in the second quarter worth about $6,423,000. Finally, Schroder Investment Management Group increased its stake in shares of Discovery Communications by 68.7% in the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock worth $30,080,000 after purchasing an additional 430,300 shares during the period. Institutional investors own 41.80% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Wolfe Research assumed coverage on Discovery Communications in a research report on Friday. They set an “outperform” rating on the stock. Barclays reissued a “hold” rating on shares of Discovery Communications in a research report on Tuesday. Zacks Investment Research downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Citigroup lifted their target price on Discovery Communications from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Finally, Imperial Capital decreased their target price on Discovery Communications from $37.00 to $31.00 and set an “inline” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.79.
NASDAQ DISCA opened at $28.93 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 0.41 and a beta of 1.24. Discovery Communications Inc. has a 1-year low of $19.11 and a 1-year high of $34.89.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.60 billion. Discovery Communications had a negative net margin of 8.52% and a positive return on equity of 17.05%. The firm’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, sell-side analysts predict that Discovery Communications Inc. will post 2.67 EPS for the current year.
In other Discovery Communications news, insider Jean-Briac Perrette sold 93,392 shares of Discovery Communications stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $31.12, for a total transaction of $2,906,359.04. Following the sale, the insider now directly owns 141,534 shares of the company’s stock, valued at $4,404,538.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Wehner sold 7,233 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $30.04, for a total value of $217,279.32. Following the completion of the transaction, the insider now directly owns 18,844 shares in the company, valued at $566,073.76. The disclosure for this sale can be found here. Insiders have sold 281,031 shares of company stock worth $8,506,185 over the last ninety days. Company insiders own 6.73% of the company’s stock.
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About Discovery Communications
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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