Westpac Banking Corp Has $6.78 Million Stock Position in Discovery Communications Inc. (NASDAQ:DISCA)

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Westpac Banking Corp lifted its holdings in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 147.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 220,764 shares of the company’s stock after purchasing an additional 131,468 shares during the quarter. Westpac Banking Corp’s holdings in Discovery Communications were worth $6,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Voit & Company LLC boosted its holdings in shares of Discovery Communications by 3.2% during the 1st quarter. Voit & Company LLC now owns 15,900 shares of the company’s stock worth $430,000 after buying an additional 500 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Discovery Communications by 4.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 74,397 shares of the company’s stock valued at $2,010,000 after purchasing an additional 3,508 shares during the period. DNB Asset Management AS boosted its holdings in Discovery Communications by 342.3% in the 1st quarter. DNB Asset Management AS now owns 61,337 shares of the company’s stock valued at $1,657,000 after purchasing an additional 47,470 shares during the period. US Bancorp DE boosted its holdings in Discovery Communications by 291.4% in the 1st quarter. US Bancorp DE now owns 55,249 shares of the company’s stock valued at $1,493,000 after purchasing an additional 41,133 shares during the period. Finally, Inlet Private Wealth LLC bought a new stake in Discovery Communications in the 1st quarter valued at $203,000. Institutional investors own 35.17% of the company’s stock.

A number of analysts have weighed in on the stock. Imperial Capital increased their price target on shares of Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a report on Monday, June 24th. BidaskClub downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, Wolfe Research downgraded shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Discovery Communications currently has a consensus rating of “Buy” and an average target price of $33.89.

Shares of DISCA stock traded up $0.63 during mid-day trading on Friday, reaching $27.80. The company’s stock had a trading volume of 89,691 shares, compared to its average volume of 3,768,060. Discovery Communications Inc. has a 1-year low of $23.79 and a 1-year high of $34.89. The company has a market cap of $15.91 billion, a P/E ratio of 13.17, a PEG ratio of 0.41 and a beta of 1.53. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s 50-day moving average is $30.67 and its two-hundred day moving average is $29.22.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.01). Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Discovery Communications Inc. will post 3.6 EPS for the current year.

In other news, CEO Peter Faricy bought 35,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $27.91 per share, for a total transaction 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 approximately $5,089,862.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total transaction of $93,105.30. Following the sale, the general counsel now owns 46,388 shares of the company’s stock, valued at approximately $1,399,989.84. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

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.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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