Velanne Asset Management Ltd raised its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 4.1% in the 1st quarter, Holdings Channel reports. The firm owned 362,449 shares of the company’s stock after purchasing an additional 14,272 shares during the quarter. Discovery Communications comprises about 6.8% of Velanne Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest holding. Velanne Asset Management Ltd’s holdings in Discovery Communications were worth $9,793,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Discovery Communications by 199.5% during the third quarter. Vanguard Group Inc. now owns 50,745,309 shares of the company’s stock worth $1,541,300,000 after acquiring an additional 33,804,647 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Discovery Communications by 4,198.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,944,085 shares of the company’s stock worth $119,000 after acquiring an additional 2,875,598 shares during the last quarter. FMR LLC grew its position in shares of Discovery Communications by 10.4% during the fourth quarter. FMR LLC now owns 13,217,760 shares of the company’s stock worth $327,007,000 after acquiring an additional 1,243,094 shares during the last quarter. BlackRock Inc. grew its position in shares of Discovery Communications by 11.8% during the fourth quarter. BlackRock Inc. now owns 10,885,778 shares of the company’s stock worth $269,315,000 after acquiring an additional 1,151,368 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Discovery Communications by 437.1% during the fourth quarter. Toronto Dominion Bank now owns 599,172 shares of the company’s stock worth $14,823,000 after acquiring an additional 487,621 shares during the last quarter. Hedge funds and other institutional investors own 34.18% of the company’s stock.
In other news, General Counsel Savalle Sims sold 16,623 shares of the firm’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 completion of the transaction, the general counsel now owns 48,684 shares in the company, valued at approximately $1,390,901.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.43% of the company’s stock.
DISCA has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, January 2nd. ValuEngine upgraded shares of Discovery Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Imperial Capital reiterated an “in-line” rating and issued a $30.00 target price (down previously from $31.00) on shares of Discovery Communications in a research report on Wednesday, January 9th. Barrington Research reiterated a “buy” rating and issued a $40.00 target price on shares of Discovery Communications in a research report on Tuesday, February 26th. Finally, Credit Suisse Group increased their target price on shares of Discovery Communications from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $33.34.
Shares of NASDAQ:DISCA traded up $0.42 during trading hours on Wednesday, hitting $30.40. 115,981 shares of the company’s stock traded hands, compared to its average volume of 4,353,831. 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. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.40 and a beta of 1.36.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.07). Discovery Communications had a net margin of 5.63% and a return on equity of 17.30%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter last year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 50.7% on a year-over-year basis. On average, research analysts forecast that Discovery Communications Inc. will post 3.48 earnings per share for the current year.
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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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