Morningstar Investment Services LLC reduced its position in Discovery Communications Inc. (NASDAQ:DISCA) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,011 shares of the company’s stock after selling 9,096 shares during the period. Morningstar Investment Services LLC’s holdings in Discovery Communications were worth $4,246,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC boosted 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 buying an additional 543 shares in the last quarter. Eudaimonia Partners LLC acquired a new stake in Discovery Communications in the 1st quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Discovery Communications in the 1st quarter worth approximately $41,000. Jacobi Capital Management LLC boosted its stake in Discovery Communications by 38.4% in the 1st quarter. Jacobi Capital Management LLC now owns 3,466 shares of the company’s stock worth $67,000 after purchasing an additional 961 shares in the last quarter. Finally, Howe & Rusling Inc. boosted its stake in 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. Institutional investors and hedge funds own 36.22% of the company’s stock.
A number of analysts recently commented on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $24.00 target price (down from $27.00) on shares of Discovery Communications in a research note on Sunday, May 10th. Cfra cut shares of Discovery Communications from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $22.00 in a research note on Wednesday, May 6th. MKM Partners lowered their target price on shares of Discovery Communications from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citigroup reduced their price target on shares of Discovery Communications from $39.00 to $27.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Imperial Capital reduced their price target on shares of Discovery Communications from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.
Discovery Communications (NASDAQ:DISCA) last posted its 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. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.71 billion. Discovery Communications had a net margin of 18.54% and a return on equity of 23.40%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities research analysts predict that Discovery Communications Inc. will post 2.89 EPS for the current fiscal year.
In related news, Director John C. Malone sold 5,229 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $21.44, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.88% of the stock is owned by insiders.
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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