General American Investors Co. Inc. decreased its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 399,285 shares of the company’s stock after selling 20,000 shares during the quarter. General American Investors Co. Inc. owned about 0.08% of Discovery Communications worth $12,777,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in DISCA. Truvestments Capital LLC bought a new position in Discovery Communications during the 3rd quarter worth approximately $122,000. Dupont Capital Management Corp raised its holdings in Discovery Communications by 108.8% during the 2nd quarter. Dupont Capital Management Corp now owns 6,010 shares of the company’s stock worth $165,000 after purchasing an additional 3,132 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new position in Discovery Communications during the 3rd quarter worth approximately $204,000. Greenleaf Trust raised its holdings in Discovery Communications by 167.5% during the 2nd quarter. Greenleaf Trust now owns 7,585 shares of the company’s stock worth $209,000 after purchasing an additional 4,750 shares during the last quarter. Finally, Creative Planning bought a new position in Discovery Communications during the 3rd quarter worth approximately $217,000. Hedge funds and other institutional investors own 37.12% of the company’s stock.
In related news, Director Kenneth W. Lowe sold 183,621 shares of the firm’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $25.58, for a total value of $4,697,025.18. Following the completion of the sale, the director now owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean-Briac Perrette sold 93,392 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $31.12, for a total value of $2,906,359.04. Following the completion of the transaction, the insider now owns 141,534 shares of the company’s stock, valued at approximately $4,404,538.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,652 shares of company stock valued at $13,203,210. Insiders own 6.73% of the company’s stock.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Discovery Communications had a negative net margin of 8.52% and a positive return on equity of 17.05%. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period last year, the company posted $0.43 EPS. Sell-side analysts anticipate that Discovery Communications Inc. will post 2.67 earnings per share for the current year.
DISCA has been the subject of several research analyst reports. Pivotal Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Tuesday, September 18th. Credit Suisse Group upgraded shares of Discovery Communications from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $40.00 in a research note on Wednesday, October 10th. Bank of America boosted their price target on shares of Discovery Communications from $30.00 to $35.50 and gave the company a “buy” rating in a research note on Thursday, September 13th. Jefferies Financial Group raised shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Tuesday, August 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Discovery Communications to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, October 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Discovery Communications currently has an average rating of “Buy” and a consensus target price of $33.03.
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Discovery Communications Profile
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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