NN Investment Partners Holdings N.V. acquired a new stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) in the second quarter, Holdings Channel reports. The firm acquired 51,969 shares of the company’s stock, valued at approximately $1,097,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Discovery Communications during the 4th quarter valued at about $10,739,000. Pathstone Family Office LLC raised its holdings in shares of Discovery Communications by 54.0% in the 1st quarter. Pathstone Family Office LLC now owns 1,549 shares of the company’s stock valued at $31,000 after purchasing an additional 543 shares in the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Discovery Communications in the 1st quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Discovery Communications in the 1st quarter valued at about $41,000. Finally, Trust Co. of Vermont raised its holdings in shares of Discovery Communications by 1,963.9% in the 2nd quarter. Trust Co. of Vermont now owns 3,426 shares of the company’s stock valued at $72,000 after purchasing an additional 3,260 shares in the last quarter. Institutional investors own 36.22% of the company’s stock.
DISCA has been the subject of several recent research reports. Deutsche Bank reduced their price target on shares of Discovery Communications from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Barrington Research restated a “buy” rating and issued a $28.00 price target on shares of Discovery Communications in a report on Friday. UBS Group reduced their price target on shares of Discovery Communications from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Royal Bank of Canada restated a “buy” rating and issued a $26.00 price target on shares of Discovery Communications in a report on Thursday, May 7th. Finally, Zacks Investment Research upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating and set a $26.00 price target for the company in a report on Monday, June 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.00.
In other Discovery Communications news, Director John C. Malone sold 5,229 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.44, for a total transaction of $112,109.76. Following the sale, the director now owns 780,591 shares of the company’s stock, valued at approximately $16,735,871.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.88% of the stock is currently owned by insiders.
Shares of Discovery Communications stock opened at $21.10 on Friday. The firm’s 50 day moving average price is $21.21 and its 200-day moving average price is $23.68. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.39. Discovery Communications Inc. has a 52-week low of $17.12 and a 52-week high of $33.65. The company has a market cap of $10.99 billion, a P/E ratio of 7.28, a PEG ratio of 0.58 and a beta of 1.51.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Wednesday, May 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.71 billion. Discovery Communications had a net margin of 18.54% and a return on equity of 23.40%. Discovery Communications’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, equities research analysts forecast that Discovery Communications Inc. will post 2.89 EPS for the current fiscal year.
About Discovery Communications
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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