Discovery Communications Inc. (DISCA) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 80.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,500 shares of the company’s stock after selling 507,100 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Discovery Communications were worth $3,105,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DISCA. Vanguard Group Inc. increased its stake in Discovery Communications by 199.5% in the third quarter. Vanguard Group Inc. now owns 50,745,309 shares of the company’s stock valued at $1,541,300,000 after purchasing an additional 33,804,647 shares during the period. FMR LLC increased its stake in Discovery Communications by 7.6% in the third quarter. FMR LLC now owns 11,974,666 shares of the company’s stock valued at $383,189,000 after purchasing an additional 841,302 shares during the period. BlackRock Inc. increased its stake in Discovery Communications by 11.8% in the fourth quarter. BlackRock Inc. now owns 10,885,778 shares of the company’s stock valued at $269,315,000 after purchasing an additional 1,151,368 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Discovery Communications by 4,198.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,944,085 shares of the company’s stock valued at $119,000 after purchasing an additional 2,875,598 shares during the period. Finally, Geode Capital Management LLC increased its stake in Discovery Communications by 19.2% in the fourth quarter. Geode Capital Management LLC now owns 2,741,634 shares of the company’s stock valued at $67,746,000 after purchasing an additional 441,740 shares during the period. Hedge funds and other institutional investors own 34.03% of the company’s stock.

In related news, General Counsel Savalle Sims sold 16,623 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $28.57, for a total transaction of $474,919.11. Following the sale, the general counsel now owns 48,684 shares of the company’s stock, valued at $1,390,901.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.73% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on DISCA. Imperial Capital reiterated an “in-line” rating and set a $30.00 price target (down from $31.00) on shares of Discovery Communications in a research note on Wednesday, January 9th. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, January 2nd. BidaskClub lowered shares of Discovery Communications from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 14th. Barrington Research reiterated a “buy” rating and set a $40.00 price target on shares of Discovery Communications in a research note on Tuesday, February 26th. Finally, Credit Suisse Group boosted their price target on shares of Discovery Communications from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $33.03.

DISCA stock opened at $26.67 on Friday. The stock has a market cap of $13.98 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.29 and a beta of 1.37. Discovery Communications Inc. has a 52 week low of $20.59 and a 52 week high of $34.89. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.50.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Tuesday, February 26th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.07). The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Discovery Communications had a return on equity of 17.30% and a net margin of 5.63%. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities analysts predict that Discovery Communications Inc. will post 3.65 earnings per share for the current year.

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Discovery Communications Company Profile

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, 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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