Princeton Portfolio Strategies Group LLC lifted its holdings in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 2,242.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,340 shares of the company’s stock after acquiring an additional 172,640 shares during the quarter. Discovery Communications accounts for about 1.3% of Princeton Portfolio Strategies Group LLC’s investment portfolio, making the stock its 25th biggest position. Princeton Portfolio Strategies Group LLC’s holdings in Discovery Communications were worth $4,658,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank grew its stake in Discovery Communications by 4.6% in the first quarter. Comerica Bank now owns 48,580 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,145 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Discovery Communications by 21.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,257,074 shares of the company’s stock worth $36,568,000 after purchasing an additional 218,809 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Discovery Communications by 9.8% in the first quarter. Mutual of America Capital Management LLC now owns 17,615 shares of the company’s stock worth $512,000 after purchasing an additional 1,578 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Discovery Communications in the first quarter worth about $368,000. Finally, Ameritas Investment Partners Inc. acquired a new position in Discovery Communications in the first quarter worth about $182,000. 45.84% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director S Decker Anstrom acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $23.05 per share, with a total value of $230,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels acquired 15,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the purchase, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at approximately $759,500. The disclosure for this purchase can be found here. Insiders have acquired 55,000 shares of company stock worth $1,243,300 over the last ninety days. Insiders own 6.81% of the company’s stock.
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A number of research firms recently commented on DISCA. Zacks Investment Research downgraded Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. UBS AG upgraded Discovery Communications from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $23.00 in a research note on Tuesday, September 26th. Credit Suisse Group upgraded Discovery Communications from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.00 in a research note on Thursday, September 14th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Discovery Communications in a research note on Tuesday, September 12th. Finally, Cowen and Company reiterated a “hold” rating and issued a $25.00 price target on shares of Discovery Communications in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.07.
Shares of Discovery Communications, Inc. (DISCA) traded down 0.51% during trading on Friday, reaching $21.41. The company’s stock had a trading volume of 2,516,801 shares. The company’s 50-day moving average price is $21.73 and its 200 day moving average price is $25.34. Discovery Communications, Inc. has a 1-year low of $20.14 and a 1-year high of $30.25. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 11.36 and a beta of 1.56.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts anticipate that Discovery Communications, Inc. will post $2.24 EPS for the current year.
About Discovery Communications
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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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