Discovery Communications Inc. (NASDAQ:DISCK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
Shares of Discovery Communications (NASDAQ:DISCK) traded up 0.44% on Tuesday, hitting $24.85. 1,588,058 shares of the stock traded hands. Discovery Communications has a 52-week low of $22.43 and a 52-week high of $30.57. The stock’s 50 day moving average price is $24.54 and its 200 day moving average price is $26.00. The stock has a market cap of $10.65 billion and a P/E ratio of 15.28.
A number of institutional investors recently made changes to their positions in the stock. Springbok Capital Management LLC bought a new position in shares of Discovery Communications during the first quarter valued at approximately $112,000. Sentry Investment Management LLC raised its position in shares of Discovery Communications by 370.4% in the first quarter. Sentry Investment Management LLC now owns 5,410 shares of the company’s stock valued at $146,000 after buying an additional 4,260 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Discovery Communications during the first quarter valued at approximately $217,000. LS Investment Advisors LLC raised its position in shares of Discovery Communications by 7.3% in the second quarter. LS Investment Advisors LLC now owns 10,015 shares of the company’s stock valued at $239,000 after buying an additional 680 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Discovery Communications during the second quarter valued at approximately $274,000.
Discovery Communications, Inc, (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
