Renaissance Technologies LLC Invests $3.37 Million in Discovery Communications, Inc. (NASDAQ:DISCK)
Renaissance Technologies LLC acquired a new stake in shares of Discovery Communications, Inc. (NASDAQ:DISCK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 118,850 shares of the company’s stock, valued at approximately $3,365,000.
Several other institutional investors have also modified their holdings of DISCK. Meeder Asset Management Inc. purchased a new position in Discovery Communications during the first quarter worth $178,000. Daiwa Securities Group Inc. increased its position in Discovery Communications by 17.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company’s stock worth $180,000 after buying an additional 950 shares during the period. Quantbot Technologies LP increased its position in Discovery Communications by 1,035.8% in the first quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock worth $187,000 after buying an additional 6,039 shares during the period. Weik Investment Services Inc. purchased a new position in Discovery Communications during the first quarter worth $209,000. Finally, Cadence Capital Management LLC purchased a new position in Discovery Communications during the first quarter worth $228,000. Institutional investors and hedge funds own 46.82% of the company’s stock.
Discovery Communications, Inc. (NASDAQ:DISCK) traded up 0.09% during trading on Friday, reaching $21.95. The company’s stock had a trading volume of 654,749 shares. The stock has a market cap of $12.51 billion, a PE ratio of 11.64 and a beta of 1.47. The company’s 50-day moving average is $24.76 and its 200-day moving average is $26.44. Discovery Communications, Inc. has a 12 month low of $21.81 and a 12 month high of $29.18.
Discovery Communications (NASDAQ:DISCK) last released its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company had revenue of $1.75 billion for the quarter. Equities analysts expect that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
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A number of equities analysts have weighed in on DISCK shares. Zacks Investment Research downgraded Discovery Communications from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. TheStreet downgraded Discovery Communications from a “b-” rating to a “c+” rating in a research report on Wednesday, May 17th. ValuEngine downgraded Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised Discovery Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Barrington Research reaffirmed a “market perform” rating on shares of Discovery Communications in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.00.
Discovery Communications Company Profile
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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
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