Discovery Communications Inc. (DISCA) Holdings Cut by Virginia Retirement Systems ET AL

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Virginia Retirement Systems ET AL decreased its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 218,400 shares of the company’s stock after selling 3,800 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Discovery Communications were worth $6,989,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of DISCA. Unigestion Holding SA acquired a new position in Discovery Communications during the 2nd quarter valued at approximately $23,579,000. Schroder Investment Management Group increased its stake in shares of Discovery Communications by 68.7% in the second quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock worth $30,080,000 after acquiring an additional 430,300 shares during the period. Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Discovery Communications in the third quarter worth $8,194,000. CapWealth Advisors LLC acquired a new stake in shares of Discovery Communications in the second quarter worth $6,423,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Discovery Communications by 189.4% in the second quarter. BNP Paribas Arbitrage SA now owns 330,563 shares of the company’s stock worth $9,090,000 after acquiring an additional 216,336 shares during the period. Institutional investors and hedge funds own 37.19% of the company’s stock.

Shares of NASDAQ DISCA opened at $32.98 on Friday. Discovery Communications Inc. has a 1 year low of $15.99 and a 1 year high of $34.89. The firm has a market cap of $17.28 billion, a P/E ratio of 15.83, a PEG ratio of 0.56 and a beta of 1.24. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.84.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). Discovery Communications had a positive return on equity of 17.68% and a negative net margin of 8.28%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 57.0% on a year-over-year basis. On average, research analysts anticipate that Discovery Communications Inc. will post 2.63 EPS for the current year.

A number of analysts have recently weighed in on DISCA shares. Jefferies Financial Group upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, August 21st. Barrington Research reiterated a “buy” rating and issued a $30.00 price objective on shares of Discovery Communications in a research note on Friday, August 17th. Citigroup increased their price objective on shares of Discovery Communications from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Royal Bank of Canada reiterated a “buy” rating and issued a $30.00 price objective on shares of Discovery Communications in a research note on Wednesday, August 8th. Finally, BidaskClub lowered shares of Discovery Communications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.22.

In other Discovery Communications news, insider Jean-Briac Perrette sold 93,392 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $31.12, for a total transaction of $2,906,359.04. Following the transaction, the insider now directly owns 141,534 shares of the company’s stock, valued at $4,404,538.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bruce Campbell sold 31,462 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $30.00, for a total transaction of $943,860.00. Following the transaction, the insider now directly owns 72,256 shares in the company, valued at $2,167,680. The disclosure for this sale can be found here. Insiders have sold 317,374 shares of company stock worth $8,811,521 over the last three months. 6.73% of the stock is currently owned by insiders.

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About Discovery Communications

Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Communications Inc. (NASDAQ:DISCA).

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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