Strs Ohio raised its holdings in Discovery Communications Inc. (NASDAQ:DISCA) by 155.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,250 shares of the company’s stock after purchasing an additional 36,036 shares during the quarter. Strs Ohio’s holdings in Discovery Communications were worth $1,250,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of DISCA. BlackRock Inc. boosted its holdings in Discovery Communications by 8.9% in the first quarter. BlackRock Inc. now owns 14,413,231 shares of the company’s stock valued at $280,194,000 after purchasing an additional 1,180,498 shares during the last quarter. PGGM Investments purchased a new stake in shares of Discovery Communications during the 2nd quarter worth about $21,995,000. JPMorgan Chase & Co. boosted its stake in shares of Discovery Communications by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 6,226,044 shares of the company’s stock worth $121,036,000 after acquiring an additional 570,985 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Discovery Communications during the 1st quarter worth about $10,349,000. Finally, State Street Corp boosted its stake in shares of Discovery Communications by 6.2% during the 1st quarter. State Street Corp now owns 7,888,113 shares of the company’s stock worth $153,345,000 after acquiring an additional 458,267 shares in the last quarter. 36.22% of the stock is currently owned by institutional investors.
In related news, Director John C. Malone sold 5,229 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.44, for a total value of $112,109.76. Following the sale, the director now directly owns 780,591 shares of the company’s stock, valued at approximately $16,735,871.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.88% of the stock is currently owned by corporate insiders.
Several research firms recently weighed in on DISCA. ValuEngine upgraded shares of Discovery Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 13th. Cfra downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating and reduced their price target for the stock from $28.00 to $22.00 in a research report on Wednesday, May 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $26.00 price objective on shares of Discovery Communications in a report on Thursday, May 7th. Barrington Research reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Discovery Communications in a research note on Friday. Finally, Zacks Investment Research raised Discovery Communications from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a research note on Monday, June 8th. Two equities 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 has an average rating of “Hold” and an average price target of $27.00.
Shares of NASDAQ DISCA opened at $21.10 on Friday. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 0.58 and a beta of 1.51. Discovery Communications Inc. has a 52 week low of $17.12 and a 52 week high of $33.65. The company’s 50-day moving average price is $21.21 and its 200 day moving average price is $23.68. 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 (NASDAQ:DISCA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Discovery Communications had a net margin of 18.54% and a return on equity of 23.40%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS. As a group, research analysts expect that Discovery Communications Inc. will post 2.89 earnings per share for the current 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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