Voit & Company LLC raised its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 9.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,365 shares of the company’s stock after buying an additional 1,465 shares during the period. Voit & Company LLC’s holdings in Discovery Communications were worth $533,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan purchased a new stake in Discovery Communications during the fourth quarter worth $119,000. Norges Bank purchased a new stake in Discovery Communications during the fourth quarter worth $8,821,000. Geode Capital Management LLC boosted its position in Discovery Communications by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 2,741,634 shares of the company’s stock worth $67,746,000 after purchasing an additional 441,740 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Discovery Communications by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 24,698 shares of the company’s stock worth $666,000 after purchasing an additional 357 shares in the last quarter. Finally, DNB Asset Management AS boosted its position in Discovery Communications by 342.3% during the first quarter. DNB Asset Management AS now owns 61,337 shares of the company’s stock worth $1,657,000 after purchasing an additional 47,470 shares in the last quarter. Hedge funds and other institutional investors own 35.17% of the company’s stock.
A number of analysts have commented on the company. Wolfe Research downgraded Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. ValuEngine downgraded Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Imperial Capital boosted their target price on Discovery Communications from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, June 24th. Finally, BidaskClub downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Discovery Communications presently has a consensus rating of “Buy” and a consensus price target of $33.89.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Tuesday, August 6th. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.89 billion. Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Discovery Communications Inc. will post 3.76 EPS for the current fiscal year.
In other Discovery Communications news, CEO Peter Faricy bought 35,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $27.91 per share, for a total transaction of $1,001,969.00. Following the completion of the purchase, the chief executive officer now owns 182,367 shares of the company’s stock, valued at approximately $5,089,862.97. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruce Campbell sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total value of $288,900.00. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.
Discovery Communications 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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