Discovery Communications Inc. (DISCA) Shares Sold by Cumberland Partners Ltd
Cumberland Partners Ltd cut its position in Discovery Communications Inc. (NASDAQ:DISCA) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 151,350 shares of the company’s stock after selling 2,800 shares during the period. Cumberland Partners Ltd’s holdings in Discovery Communications were worth $3,819,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Douglas Lane & Associates LLC boosted its stake in shares of Discovery Communications by 3.4% in the second quarter. Douglas Lane & Associates LLC now owns 27,925 shares of the company’s stock worth $705,000 after buying an additional 930 shares during the period. Bank of Montreal Can purchased a new stake in Discovery Communications during the second quarter worth approximately $990,000. Meeder Asset Management Inc. purchased a new stake in Discovery Communications during the second quarter worth approximately $256,000. YHB Investment Advisors Inc. boosted its stake in Discovery Communications by 9.4% in the second quarter. YHB Investment Advisors Inc. now owns 12,751 shares of the company’s stock worth $322,000 after buying an additional 1,100 shares during the last quarter. Finally, S&CO Inc. boosted its stake in Discovery Communications by 4.3% in the second quarter. S&CO Inc. now owns 81,125 shares of the company’s stock worth $2,047,000 after buying an additional 3,330 shares during the last quarter. Institutional investors and hedge funds own 40.59% of the company’s stock.
Shares of Discovery Communications Inc. (NASDAQ:DISCA) traded up 4.81% during mid-day trading on Thursday, reaching $25.71. 6,441,835 shares of the company’s stock were exchanged. Discovery Communications Inc. has a 1-year low of $23.66 and a 1-year high of $31.80. The company’s 50 day moving average is $25.68 and its 200 day moving average is $26.73. The stock has a market capitalization of $10.75 billion, a PE ratio of 13.98 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. Discovery Communications had a net margin of 18.06% and a return on equity of 23.45%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Equities research analysts anticipate that Discovery Communications Inc. will post $1.98 EPS for the current fiscal year.
A number of equities research analysts have recently commented on DISCA shares. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Friday, August 5th. Pivotal Research reiterated a “buy” rating on shares of Discovery Communications in a report on Monday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $36.00 price target on shares of Discovery Communications in a report on Monday, June 27th. Argus reiterated a “buy” rating and set a $40.00 price target on shares of Discovery Communications in a report on Monday, August 15th. Finally, Loop Capital reiterated a “buy” rating and set a $31.00 price target on shares of Discovery Communications in a report on Saturday, September 3rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.43.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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