UBS Oconnor LLC trimmed its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 67.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,944 shares of the company’s stock after selling 87,130 shares during the quarter. UBS Oconnor LLC’s holdings in Discovery Communications were worth $1,288,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in DISCA. Balyasny Asset Management LLC boosted its position in shares of Discovery Communications by 946.5% in the second quarter. Balyasny Asset Management LLC now owns 413,787 shares of the company’s stock worth $12,703,000 after purchasing an additional 374,246 shares during the period. Assetmark Inc. boosted its position in shares of Discovery Communications by 37.3% in the second quarter. Assetmark Inc. now owns 61,188 shares of the company’s stock worth $1,878,000 after purchasing an additional 16,618 shares during the period. Goldentree Asset Management LP bought a new position in shares of Discovery Communications in the second quarter worth approximately $36,919,000. Putnam Investments LLC boosted its position in shares of Discovery Communications by 43.6% in the second quarter. Putnam Investments LLC now owns 1,156,397 shares of the company’s stock worth $35,501,000 after purchasing an additional 350,932 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Discovery Communications by 27.8% in the second quarter. Invesco Ltd. now owns 948,392 shares of the company’s stock worth $29,116,000 after purchasing an additional 206,475 shares during the period. Institutional investors own 33.96% of the company’s stock.
Several research firms have recently commented on DISCA. BidaskClub downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Imperial Capital lowered their target price on shares of Discovery Communications from $30.00 to $29.00 and set an “inline” rating on the stock in a report on Tuesday, August 27th. Finally, Wolfe Research downgraded shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.20.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that Discovery Communications Inc. will post 3.82 earnings per share for the current year.
In related news, Director Daniel E. Sanchez sold 1,059 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $28.40, for a total value of $30,075.60. Following the completion of the transaction, the director now directly owns 16,789 shares of the company’s stock, valued at approximately $476,807.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.18, for a total transaction of $93,105.30. Following the completion of the transaction, the general counsel now directly owns 46,388 shares of the company’s stock, valued at $1,399,989.84. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by company 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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