Seven Eight Capital LP purchased a new stake in Discovery Communications, Inc. (NASDAQ:DISCK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 29,167 shares of the company’s stock, valued at approximately $735,000.
Other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Trust Co. purchased a new stake in shares of Discovery Communications in the 2nd quarter valued at approximately $160,000. Meeder Asset Management Inc. purchased a new stake in shares of Discovery Communications in the 1st quarter valued at approximately $178,000. Daiwa Securities Group Inc. raised its stake in shares of Discovery Communications by 17.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company’s stock valued at $180,000 after acquiring an additional 950 shares during the period. Quantbot Technologies LP raised its stake in shares of Discovery Communications by 1,035.8% in the 1st quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock valued at $187,000 after acquiring an additional 6,039 shares during the period. Finally, Cadence Capital Management LLC raised its stake in shares of Discovery Communications by 0.7% in the 2nd quarter. Cadence Capital Management LLC now owns 8,111 shares of the company’s stock valued at $204,000 after acquiring an additional 55 shares during the period. 45.30% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the stock. Barrington Research reaffirmed a “market perform” rating on shares of Discovery Communications in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. BidaskClub downgraded shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Discovery Communications has a consensus rating of “Hold” and a consensus price target of $29.00.
Shares of Discovery Communications, Inc. (DISCK) opened at 20.64 on Friday. The company’s 50-day moving average is $21.54 and its 200 day moving average is $25.21. Discovery Communications, Inc. has a 52 week low of $19.36 and a 52 week high of $29.18. The stock has a market capitalization of $11.76 billion, a P/E ratio of 10.95 and a beta of 1.46.
Discovery Communications (NASDAQ:DISCK) last announced its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The business had revenue of $1.75 billion for the quarter. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. On average, equities analysts forecast that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
Discovery Communications Company 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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