Discovery Communications Inc. (DISCK) Sees Strong Trading Volume
Discovery Communications Inc. (NASDAQ:DISCK) shares saw unusually-strong trading volume on Friday . Approximately 5,851,216 shares were traded 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 have issued reports on DISCK shares. Zacks Investment Research upgraded Discovery Communications from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Wednesday, May 25th. Topeka Capital Markets lowered Discovery Communications from a “buy” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $30.00 in a research report on Monday, April 25th.
The stock has a market capitalization of $10.59 billion and a price-to-earnings ratio of 13.77. The firm’s 50 day moving average is $24.42 and its 200 day moving average is $25.96.
A number of hedge funds and institutional investors have bought and sold shares of the company. Employees Retirement System of Texas raised 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 in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Discovery Communications by 58.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,140,000 shares of the company’s stock worth $28,750,000 after buying an additional 420,000 shares during the period. Andra AP fonden raised its stake in shares of Discovery Communications by 2.2% in the fourth quarter. Andra AP fonden now owns 82,300 shares of the company’s stock worth $2,076,000 after buying an additional 1,800 shares during the period. Aberdeen Asset Management PLC UK raised its stake in shares of Discovery Communications by 39.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 111,891 shares of the company’s stock worth $3,094,000 after buying an additional 31,506 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Discovery Communications by 151.0% in the fourth quarter. Bank of Montreal Can now owns 272,513 shares of the company’s stock worth $6,873,000 after buying an additional 163,955 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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