Discovery Communications Inc. (DISCK) Sees Large Volume Increase
Discovery Communications Inc. (NASDAQ:DISCK) shares saw strong trading volume on Friday . 5,851,216 shares traded hands during trading, an increase of 129% from the previous session’s volume of 2,559,251 shares.The stock last traded at $25.33 and had previously closed at $24.89.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Discovery Communications from a “sell” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research report on Friday, August 5th. Topeka Capital Markets downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating and dropped their target price for the company from $37.00 to $30.00 in a research report on Monday, April 25th.
The firm has a market cap of $10.59 billion and a PE ratio of 13.77. The firm has a 50-day moving average of $24.42 and a 200-day moving average of $25.96.
Several hedge funds and institutional investors have bought and sold shares of the company. Employees Retirement System of Texas increased its position in Discovery Communications by 1,204.0% in the fourth quarter. Employees Retirement System of Texas now owns 130,400 shares of the company’s stock valued at $3,289,000 after buying an additional 120,400 shares during the period. Andra AP fonden increased its position in Discovery Communications by 2.2% in the fourth quarter. Andra AP fonden now owns 82,300 shares of the company’s stock valued at $2,076,000 after buying an additional 1,800 shares during the period. Finally, Aberdeen Asset Management PLC UK increased its position in Discovery Communications by 39.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 111,891 shares of the company’s stock valued at $3,094,000 after buying an additional 31,506 shares during the period.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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