Nokomis Capital L.L.C. cut its position in Discovery Communications Inc. (NASDAQ:DISCK) by 46.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,854 shares of the company’s stock after selling 445,349 shares during the period. Discovery Communications accounts for approximately 1.9% of Nokomis Capital L.L.C.’s investment portfolio, making the stock its 18th biggest holding. Nokomis Capital L.L.C. owned about 0.13% of Discovery Communications worth $9,952,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wisconsin Investment Board boosted its stake in Discovery Communications by 101.1% during the 4th quarter. State of Wisconsin Investment Board now owns 13,528,070 shares of the company’s stock valued at $286,389,000 after purchasing an additional 6,799,916 shares during the last quarter. BlackRock Inc. boosted its stake in Discovery Communications by 40.9% during the 1st quarter. BlackRock Inc. now owns 19,181,210 shares of the company’s stock valued at $374,418,000 after purchasing an additional 5,563,690 shares during the last quarter. CQS Cayman LP boosted its stake in Discovery Communications by 91.8% during the 1st quarter. CQS Cayman LP now owns 3,727,871 shares of the company’s stock valued at $72,768,000 after purchasing an additional 1,784,141 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Discovery Communications by 130.0% during the 4th quarter. Mackenzie Financial Corp now owns 3,083,624 shares of the company’s stock valued at $65,280,000 after purchasing an additional 1,743,195 shares during the last quarter. Finally, Contrarius Investment Management Ltd acquired a new position in Discovery Communications during the 1st quarter valued at about $25,746,000. Institutional investors own 54.35% of the company’s stock.
A number of brokerages have recently weighed in on DISCK. ValuEngine upgraded Discovery Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Morgan Stanley cut their target price on Discovery Communications to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.00.
Discovery Communications (NASDAQ:DISCK) last announced its earnings results on Tuesday, May 8th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.13. Discovery Communications had a positive return on equity of 19.34% and a negative net margin of 7.40%. The firm had revenue of $2.31 billion for the quarter.
Discovery Communications Profile
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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