Raymond James & Associates raised its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 79.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 872,071 shares of the company’s stock after buying an additional 385,834 shares during the quarter. Raymond James & Associates owned about 0.17% of Discovery Communications worth $18,401,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in DISCA. Pathstone Family Office LLC grew its position 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 worth $31,000 after buying an additional 543 shares during the period. Eudaimonia Partners LLC purchased a new stake in Discovery Communications in the first quarter worth about $39,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Discovery Communications during the first quarter valued at approximately $41,000. Jacobi Capital Management LLC lifted its holdings in shares of Discovery Communications by 38.4% during the first quarter. Jacobi Capital Management LLC now owns 3,466 shares of the company’s stock valued at $67,000 after purchasing an additional 961 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its position in shares of Discovery Communications by 992.1% in the 1st quarter. Howe & Rusling Inc. now owns 3,440 shares of the company’s stock worth $67,000 after purchasing an additional 3,125 shares in the last quarter. Hedge funds and other institutional investors own 36.22% of the company’s stock.
In other news, Director John C. Malone sold 5,229 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.44, for a total transaction of $112,109.76. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. 5.88% of the stock is currently owned by corporate insiders.
Shares of DISCA stock opened at $21.10 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.39. Discovery Communications Inc. has a 12-month low of $17.12 and a 12-month high of $33.65. The stock has a market capitalization of $10.99 billion, a P/E ratio of 5.70, a P/E/G ratio of 0.58 and a beta of 1.51. The firm’s 50 day moving average is $21.21 and its 200 day moving average is $23.68.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Discovery Communications had a return on equity of 23.40% and a net margin of 18.54%. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period in the prior year, the firm earned $0.87 EPS. The company’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts predict that Discovery Communications Inc. will post 2.89 earnings per share for the current year.
A number of brokerages have issued reports on DISCA. Zacks Investment Research upgraded Discovery Communications from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a research note on Monday, June 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $26.00 price target on shares of Discovery Communications in a research report on Thursday, May 7th. ValuEngine raised shares of Discovery Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 13th. Imperial Capital decreased their target price on shares of Discovery Communications from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, June 29th. Finally, Citigroup dropped their target price on shares of Discovery Communications from $39.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.00.
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.
Further Reading: CBOE Russell 2000® Volatility Index
Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Communications Inc. (NASDAQ:DISCA).
Receive News & Ratings for Discovery Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications and related companies with MarketBeat.com's FREE daily email newsletter.