Sandy Spring Bank grew its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 120.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,045 shares of the company’s stock after buying an additional 8,760 shares during the period. Sandy Spring Bank’s holdings in Discovery Communications were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its holdings in shares of Discovery Communications by 24.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock valued at $132,000 after purchasing an additional 900 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Discovery Communications during the 1st quarter valued at about $134,000. Ballentine Partners LLC bought a new position in shares of Discovery Communications during the 2nd quarter valued at about $133,000. Ameritas Investment Partners Inc. bought a new position in shares of Discovery Communications during the 1st quarter valued at about $182,000. Finally, Horizon Investment Services LLC bought a new position in shares of Discovery Communications during the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 45.84% of the company’s stock.
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Several equities analysts have recently weighed in on DISCA shares. Citigroup Inc. upgraded Discovery Communications from a “neutral” rating to a “buy” rating and cut their price objective for the company from $30.00 to $29.00 in a report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $32.00 price objective on shares of Discovery Communications in a report on Friday, July 14th. Pivotal Research upgraded Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price objective on shares of Discovery Communications in a report on Friday, June 16th. Finally, BidaskClub upgraded Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Discovery Communications presently has a consensus rating of “Hold” and a consensus target price of $27.13.
Discovery Communications, Inc. (NASDAQ:DISCA) traded down 0.342% on Monday, hitting $21.865. The company’s stock had a trading volume of 332,468 shares. The firm has a 50 day moving average of $22.78 and a 200-day moving average of $26.05. Discovery Communications, Inc. has a 12 month low of $20.53 and a 12 month high of $30.25. The stock has a market cap of $12.46 billion, a PE ratio of 11.599 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. On average, analysts expect that Discovery Communications, Inc. will post $2.24 earnings per share for the current fiscal year.
In related news, CFO Gunnar Wiedenfels purchased 20,000 shares of Discovery Communications stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $460,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul J. Guagliardo purchased 10,000 shares of Discovery Communications stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $22.71 per share, with a total value of $227,100.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $227,100. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by company insiders.
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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