Deane Retirement Strategies Inc. cut its stake in Discovery Communications, Inc. (NASDAQ:DISCA) by 55.0% during the second quarter, Holdings Channel reports. The fund owned 65,514 shares of the company’s stock after selling 80,018 shares during the period. Discovery Communications accounts for approximately 1.4% of Deane Retirement Strategies Inc.’s holdings, making the stock its 21st largest position. Deane Retirement Strategies Inc.’s holdings in Discovery Communications were worth $1,692,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after buying an additional 8,971,338 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock valued at $319,034,000 after buying an additional 1,848,329 shares during the period. Norges Bank purchased a new stake in shares of Discovery Communications during the fourth quarter valued at $40,919,000. Strs Ohio raised its stake in shares of Discovery Communications by 59,357.5% in the first quarter. Strs Ohio now owns 1,277,148 shares of the company’s stock valued at $37,152,000 after buying an additional 1,275,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Discovery Communications by 5.4% in the first quarter. Vanguard Group Inc. now owns 15,803,301 shares of the company’s stock valued at $459,718,000 after buying an additional 803,848 shares during the period. 44.33% of the stock is owned by institutional investors.
Shares of Discovery Communications, Inc. (NASDAQ DISCA) traded up 1.452% during mid-day trading on Monday, reaching $26.195. The company had a trading volume of 1,078,260 shares. Discovery Communications, Inc. has a 12 month low of $23.96 and a 12 month high of $30.25. The firm’s 50-day moving average is $26.04 and its 200 day moving average is $27.64. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 13.700 and a beta of 1.60.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.08. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. Discovery Communications had a return on equity of 23.67% and a net margin of 17.50%. Discovery Communications’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. On average, equities research analysts predict that Discovery Communications, Inc. will post $2.27 earnings per share for the current year.
DISCA has been the subject of several analyst reports. TheStreet downgraded Discovery Communications from a “b-” rating to a “c+” rating in a report on Thursday, May 18th. MKM Partners reissued a “neutral” rating and set a $30.00 price target (up from $27.00) on shares of Discovery Communications in a research report on Tuesday, May 2nd. Royal Bank of Canada set a $32.00 price target on Discovery Communications and gave the company a “buy” rating in a research report on Monday, June 12th. BidaskClub lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Moffett Nathanson reissued a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.07.
In other news, Director Paul A. Gould sold 8,832 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $25.98, for a total value of $229,455.36. Following the transaction, the director now owns 188,676 shares of the company’s stock, valued at $4,901,802.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. 5.78% of the stock is owned by insiders.
About Discovery Communications
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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