Discovery Communications Inc. (DISCA) Shares Bought by Hartford Investment Management Co.

Hartford Investment Management Co. lifted its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 35.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,991 shares of the company’s stock after purchasing an additional 6,566 shares during the period. Hartford Investment Management Co.’s holdings in Discovery Communications were worth $800,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group boosted its holdings in Discovery Communications by 68.7% in the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock valued at $30,080,000 after acquiring an additional 430,300 shares during the last quarter. Anavon Capital LLP bought a new position in Discovery Communications in the third quarter valued at about $11,834,000. Perella Weinberg Partners Capital Management LP bought a new position in Discovery Communications in the third quarter valued at about $8,194,000. CapWealth Advisors LLC bought a new position in Discovery Communications in the second quarter valued at about $6,423,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Discovery Communications by 189.4% in the second quarter. BNP Paribas Arbitrage SA now owns 330,563 shares of the company’s stock valued at $9,090,000 after acquiring an additional 216,336 shares during the last quarter. Institutional investors own 35.94% of the company’s stock.

In related news, Director Kenneth W. Lowe sold 58,000 shares of Discovery Communications stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $28.88, for a total value of $1,675,040.00. Following the sale, the director now owns 1,236,060 shares of the company’s stock, valued at approximately $35,697,412.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Savalle Sims sold 1,666 shares of Discovery Communications stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total value of $46,997.86. Following the completion of the sale, the general counsel now directly owns 208 shares in the company, valued at approximately $5,867.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,652 shares of company stock worth $13,203,210. 6.73% of the stock is currently owned by insiders.

Several research firms have weighed in on DISCA. Zacks Investment Research lowered Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. MKM Partners increased their target price on Discovery Communications from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, November 14th. Cannonball Research lowered Discovery Communications to a “hold” rating and set a $33.00 target price on the stock. in a research note on Monday. Pivotal Research reissued a “hold” rating and issued a $26.00 target price on shares of Discovery Communications in a research note on Tuesday, August 7th. Finally, Citigroup increased their target price on Discovery Communications from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.21.

NASDAQ DISCA opened at $30.36 on Friday. The stock has a market cap of $15.89 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.43 and a beta of 1.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.61. Discovery Communications Inc. has a one year low of $17.15 and a one year high of $34.89.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.60 billion. Discovery Communications had a positive return on equity of 17.05% and a negative net margin of 8.52%. The company’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 EPS. Research analysts anticipate that Discovery Communications Inc. will post 2.67 earnings per share for the current fiscal year.

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

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