Addenda Capital Inc. lifted its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,894 shares of the company’s stock after buying an additional 2,906 shares during the period. Addenda Capital Inc.’s holdings in Discovery Communications were worth $4,481,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of DISCA. Thor Advisors LLC acquired a new stake in Discovery Communications during the 1st quarter valued at $29,000. Pennsylvania Trust Co bought a new position in Discovery Communications in the 1st quarter valued at $1,085,000. Northwestern Mutual Wealth Management Co. boosted its position in Discovery Communications by 96.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock valued at $52,000 after buying an additional 945 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new position in Discovery Communications in the 1st quarter valued at $82,000. Finally, Mint Tower Capital Management B.V. bought a new position in Discovery Communications in the 1st quarter valued at $80,000. 34.44% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:DISCA traded down $0.09 during trading on Tuesday, hitting $30.89. 3,452,075 shares of the company were exchanged, compared to its average volume of 3,972,027. The stock has a 50 day simple moving average of $30.39. The firm has a market cap of $16.28 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.42 and a beta of 1.47. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. Discovery Communications Inc. has a 1-year low of $23.79 and a 1-year high of $34.89.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.72 billion. Discovery Communications had a return on equity of 20.10% and a net margin of 9.00%. Discovery Communications’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts expect that Discovery Communications Inc. will post 3.93 EPS for the current year.
Several research analysts have recently issued reports on DISCA shares. Wolfe Research began coverage on Waters in a research report on Thursday, May 30th. They issued an “underperform” rating on the stock. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Imperial Capital lifted their price target on Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.89.
In related news, CEO Peter Faricy acquired 35,900 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were bought at an average price of $27.91 per share, with a total value of $1,001,969.00. Following the transaction, the chief executive officer now directly owns 182,367 shares of the company’s stock, valued at $5,089,862.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bruce Campbell sold 10,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $28.89, for a total transaction of $288,900.00. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.
About Discovery Communications
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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