Discovery Communications Inc. (DISCA) Stake Increased by Pendal Group Ltd

Pendal Group Ltd raised its position in Discovery Communications Inc. (NASDAQ:DISCA) by 27.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 187,927 shares of the company’s stock after acquiring an additional 40,525 shares during the period. Pendal Group Ltd’s holdings in Discovery Communications were worth $6,014,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in DISCA. Truvestments Capital LLC purchased a new position in shares of Discovery Communications in the 3rd quarter valued at about $122,000. FNY Investment Advisers LLC purchased a new position in shares of Discovery Communications in the 3rd quarter valued at about $172,000. Dupont Capital Management Corp increased its holdings in shares of Discovery Communications by 108.8% in the 2nd quarter. Dupont Capital Management Corp now owns 6,010 shares of the company’s stock valued at $165,000 after purchasing an additional 3,132 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Discovery Communications in the 3rd quarter valued at about $200,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Discovery Communications in the 3rd quarter valued at about $202,000. Institutional investors own 37.19% of the company’s stock.

DISCA has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Discovery Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, August 17th. Imperial Capital reiterated an “outperform” rating and issued a $37.00 price target (up previously from $32.00) on shares of Discovery Communications in a report on Monday, September 24th. Zacks Investment Research downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Barclays set a $27.00 price target on shares of Discovery Communications and gave the company an “equal weight” rating in a report on Friday, October 26th. Finally, Jefferies Financial Group upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Discovery Communications currently has an average rating of “Buy” and a consensus target price of $31.38.

In other news, insider Jean-Briac Perrette sold 93,392 shares of Discovery Communications stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $31.12, for a total transaction of $2,906,359.04. Following the completion of the sale, the insider now directly owns 141,534 shares in the company, valued at $4,404,538.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth W. Lowe sold 183,621 shares of Discovery Communications stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $25.58, for a total transaction of $4,697,025.18. Following the sale, the director now owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The disclosure for this sale can be found here. Insiders have sold a total of 317,374 shares of company stock valued at $8,811,521 over the last 90 days. 6.73% of the stock is currently owned by insiders.

NASDAQ:DISCA opened at $33.08 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.84. Discovery Communications Inc. has a twelve month low of $15.99 and a twelve month high of $34.06. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 0.56 and a beta of 1.24.

Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.10). Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business posted $0.43 earnings per share. The business’s revenue was up 57.0% compared to the same quarter last year. On average, research analysts forecast that Discovery Communications Inc. will post 2.63 EPS for the current year.

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Discovery Communications 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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