Morgan Stanley reduced its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 16.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,044,488 shares of the company’s stock after selling 208,337 shares during the period. Morgan Stanley’s holdings in Discovery Communications were worth $20,306,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quantitative Investment Management LLC grew its position in Discovery Communications by 308.3% in the 1st quarter. Quantitative Investment Management LLC now owns 194,487 shares of the company’s stock valued at $3,780,000 after acquiring an additional 146,852 shares during the last quarter. Malaga Cove Capital LLC boosted its stake in shares of Discovery Communications by 20.6% during the first quarter. Malaga Cove Capital LLC now owns 52,317 shares of the company’s stock valued at $1,168,000 after purchasing an additional 8,951 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Discovery Communications by 335.2% during the first quarter. Two Sigma Advisers LP now owns 259,800 shares of the company’s stock valued at $5,051,000 after purchasing an additional 200,100 shares during the period. AMG National Trust Bank grew its holdings in shares of Discovery Communications by 70.0% in the first quarter. AMG National Trust Bank now owns 94,181 shares of the company’s stock worth $1,831,000 after purchasing an additional 38,776 shares during the last quarter. Finally, Quaker Capital Investments LLC increased its stake in Discovery Communications by 114.6% in the 1st quarter. Quaker Capital Investments LLC now owns 670,237 shares of the company’s stock worth $13,029,000 after buying an additional 357,895 shares during the period. Institutional investors own 36.27% of the company’s stock.
DISCA has been the subject of several research reports. Cfra cut shares of Discovery Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from $28.00 to $22.00 in a research report on Wednesday, May 6th. Zacks Investment Research upgraded Discovery Communications from a “sell” rating to a “hold” rating and set a $26.00 target price for the company in a report on Monday, June 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Discovery Communications in a research note on Thursday, May 7th. Imperial Capital cut their target price on shares of Discovery Communications from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, UBS Group reduced their price target on shares of Discovery Communications from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Discovery Communications has a consensus rating of “Hold” and an average target price of $27.58.
Discovery Communications stock opened at $21.10 on Wednesday. Discovery Communications Inc. has a 1-year low of $17.12 and a 1-year high of $33.65. The business has a fifty day moving average price of $21.80 and a 200-day moving average price of $25.49. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.58 and a beta of 1.51.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Discovery Communications had a return on equity of 23.40% and a net margin of 18.54%. The company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the business posted $0.87 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Discovery Communications Inc. will post 2.92 earnings per share for the current fiscal year.
In related news, Director John C. Malone sold 5,229 shares of Discovery Communications stock in a transaction that occurred 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 directly owns 780,591 shares in the company, valued at approximately $16,735,871.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.88% of the company’s stock.
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.
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