Pegasus Partners Ltd. Invests $3.33 Million in Discovery Communications, Inc. (DISCA)
Pegasus Partners Ltd. bought a new position in Discovery Communications, Inc. (NASDAQ:DISCA) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 129,035 shares of the company’s stock, valued at approximately $3,333,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DISCA. Teachers Advisors LLC raised its position in Discovery Communications by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 316,997 shares of the company’s stock worth $8,689,000 after buying an additional 15,272 shares in the last quarter. Macquarie Group Ltd. raised its position in Discovery Communications by 1.2% in the fourth quarter. Macquarie Group Ltd. now owns 57,377 shares of the company’s stock worth $1,573,000 after buying an additional 690 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in Discovery Communications by 3.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 132,537 shares of the company’s stock worth $3,856,000 after buying an additional 4,619 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Discovery Communications by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 49,167 shares of the company’s stock worth $1,430,000 after buying an additional 600 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Discovery Communications by 8.4% in the first quarter. Bank of Montreal Can now owns 43,128 shares of the company’s stock worth $1,256,000 after buying an additional 3,355 shares in the last quarter. 44.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Discovery Communications, Inc. (NASDAQ DISCA) opened at 22.24 on Friday. Discovery Communications, Inc. has a 1-year low of $22.12 and a 1-year high of $30.25. The company has a 50-day moving average of $25.22 and a 200-day moving average of $26.98. The company has a market cap of $12.68 billion, a PE ratio of 11.80 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.72 by $0.04. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities analysts forecast that Discovery Communications, Inc. will post $2.23 EPS for the current year.
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DISCA has been the subject of a number of research analyst reports. Citigroup Inc. raised shares of Discovery Communications from a “sell” rating to a “neutral” rating in a research report on Thursday, April 20th. Pivotal Research reissued a “hold” rating and set a $28.00 target price (up previously from $27.00) on shares of Discovery Communications in a research report on Sunday, April 23rd. TheStreet raised shares of Discovery Communications from a “c+” rating to a “b-” rating in a research report on Thursday, April 20th. MKM Partners reaffirmed a “neutral” rating and set a $30.00 price objective (up previously from $27.00) on shares of Discovery Communications in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Discovery Communications in a research report on Friday, May 12th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $27.27.
In related news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 35,000 shares in the company, valued at approximately $759,500. The disclosure for this purchase can be found here. Insiders bought a total of 45,000 shares of company stock valued at $1,016,200 over the last 90 days. Corporate insiders own 5.78% of the company’s stock.
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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