Discovery Communications Sees Unusually Large Options Volume (DISCA)

Discovery Communications Inc. (NASDAQ:DISCA) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 24,942 call options on the company. This is an increase of approximately 1,887% compared to the average volume of 1,255 call options.

In other news, General Counsel Savalle Sims sold 1,666 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the sale, the general counsel now owns 208 shares of the company’s stock, valued at approximately $5,867.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 31,462 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $30.00, for a total transaction of $943,860.00. Following the sale, the insider now directly owns 72,256 shares in the company, valued at approximately $2,167,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,374 shares of company stock worth $8,811,521. Insiders own 6.73% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Summit Trail Advisors LLC raised its position in shares of Discovery Communications by 1,800.6% during the first quarter. Summit Trail Advisors LLC now owns 310,715 shares of the company’s stock valued at $311,000 after buying an additional 294,367 shares during the last quarter. CapWealth Advisors LLC bought a new stake in shares of Discovery Communications during the second quarter valued at approximately $6,423,000. California Public Employees Retirement System raised its position in shares of Discovery Communications by 26.4% during the second quarter. California Public Employees Retirement System now owns 359,647 shares of the company’s stock valued at $9,890,000 after buying an additional 75,219 shares during the last quarter. grace capital bought a new stake in shares of Discovery Communications during the second quarter valued at approximately $3,442,000. Finally, Schroder Investment Management Group raised its position in shares of Discovery Communications by 68.7% during the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock valued at $30,080,000 after buying an additional 430,300 shares during the last quarter. 37.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:DISCA opened at $33.05 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.84. Discovery Communications has a 1-year low of $15.99 and a 1-year high of $34.06. The company has a market cap of $16.72 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.54 and a beta of 1.44.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.18). Discovery Communications had a negative net margin of 8.28% and a positive return on equity of 17.68%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.85 billion. On average, equities research analysts predict that Discovery Communications will post 2.63 EPS for the current fiscal year.

DISCA has been the topic of a number of research reports. BidaskClub raised shares of Discovery Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, August 17th. Imperial Capital reissued an “outperform” rating and issued a $37.00 price objective (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. Jefferies Financial Group raised shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, August 21st. Finally, Bank of America raised their price objective on shares of Discovery Communications from $30.00 to $35.50 and gave the stock a “buy” rating in a report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Discovery Communications presently has an average rating of “Buy” and an average price target of $30.31.

Discovery Communications Company 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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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