Nordea Investment Management AB lifted its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 144.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,101 shares of the company’s stock after acquiring an additional 5,966 shares during the quarter. Nordea Investment Management AB’s holdings in Discovery Communications were worth $323,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in Discovery Communications in the 3rd quarter worth about $122,000. FNY Investment Advisers LLC bought a new position in Discovery Communications in the 3rd quarter worth about $172,000. Chicago Equity Partners LLC bought a new position in Discovery Communications in the 3rd quarter worth about $200,000. Engineers Gate Manager LP bought a new position in Discovery Communications in the 3rd quarter worth about $202,000. Finally, Westbourne Investment Advisors Inc. bought a new position in Discovery Communications in the 3rd quarter worth about $204,000. Institutional investors own 35.30% of the company’s stock.
Shares of NASDAQ DISCA opened at $27.12 on Friday. The stock has a market cap of $14.28 billion, a P/E ratio of 12.11, a PEG ratio of 0.29 and a beta of 1.35. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.01 and a current ratio of 1.01. Discovery Communications Inc. has a 1-year low of $20.59 and a 1-year high of $34.89.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.10). The firm 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 quarterly revenue was up 57.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, equities analysts expect that Discovery Communications Inc. will post 2.67 earnings per share for the current year.
A number of brokerages have recently issued reports on DISCA. Imperial Capital reiterated an “outperform” rating and set a $37.00 price target (up previously from $32.00) on shares of Discovery Communications in a research report on Monday, September 24th. Barclays set a $27.00 price target on Discovery Communications and gave the company an “equal weight” rating in a research report on Friday, October 26th. MKM Partners lifted their price target on Discovery Communications from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, November 14th. Macquarie set a $38.00 price target on Discovery Communications and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, Wolfe Research began coverage on Discovery Communications in a research report on Friday, December 7th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.38.
In other Discovery Communications news, CFO Gunnar Wiedenfels sold 50,000 shares of Discovery Communications stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $29.47, for a total value of $1,473,500.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $294,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth W. Lowe sold 58,000 shares of Discovery Communications stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $28.88, for a total value of $1,675,040.00. Following the completion of the transaction, the director now directly owns 1,236,060 shares in the company, valued at $35,697,412.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,278 shares of company stock worth $4,391,689. 6.73% of the stock is currently owned by insiders.
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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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