Short Interest in Discovery Communications Inc. (NASDAQ:DISCA) Declines By 8.4%

Discovery Communications Inc. (NASDAQ:DISCA) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 28,460,000 shares, a decrease of 8.4% from the August 15th total of 31,080,000 shares. Approximately 18.7% of the company’s stock are short sold. Based on an average daily trading volume, of 3,860,000 shares, the days-to-cover ratio is presently 7.4 days.

In related news, Director Daniel E. Sanchez sold 1,059 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.40, for a total transaction of $30,075.60. Following the completion of the transaction, the director now owns 16,789 shares in the company, valued at $476,807.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total transaction of $93,105.30. Following the transaction, the general counsel now owns 46,388 shares of the company’s stock, valued at approximately $1,399,989.84. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Discovery Communications by 12.4% in the second quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock valued at $592,608,000 after purchasing an additional 2,134,191 shares during the period. BlackRock Inc. raised its position in shares of Discovery Communications by 0.8% in the second quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock valued at $328,218,000 after purchasing an additional 85,421 shares during the period. Wells Fargo & Company MN raised its position in shares of Discovery Communications by 62.7% in the second quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock valued at $106,015,000 after purchasing an additional 1,330,279 shares during the period. Northern Trust Corp raised its position in shares of Discovery Communications by 6.5% in the second quarter. Northern Trust Corp now owns 2,535,004 shares of the company’s stock valued at $77,825,000 after purchasing an additional 154,878 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Discovery Communications by 790.2% in the second quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock valued at $54,207,000 after purchasing an additional 1,567,374 shares during the period. 34.00% of the stock is currently owned by hedge funds and other institutional investors.

DISCA has been the subject of several recent research reports. Imperial Capital reduced their target price on shares of Discovery Communications from $30.00 to $29.00 and set an “inline” rating for the company in a report on Tuesday, August 27th. Wells Fargo & Co initiated coverage on shares of Discovery Communications in a report on Monday, September 23rd. They set an “outperform” rating and a $35.00 target price for the company. Finally, BidaskClub cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.27.

NASDAQ DISCA traded up $0.03 on Monday, hitting $26.80. 180,061 shares of the stock were exchanged, compared to its average volume of 3,681,386. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 1.27. The business’s fifty day moving average is $27.63 and its 200 day moving average is $28.89. Discovery Communications has a 52 week low of $23.79 and a 52 week high of $34.89. The company has a market capitalization of $14.23 billion, a PE ratio of 12.70, a P/E/G ratio of 0.38 and a beta of 1.57.

Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the company posted $0.77 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. Analysts predict that Discovery Communications will post 3.61 EPS for the current fiscal year.

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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