Martingale Asset Management L P Boosts Stake in Discovery Communications, Inc. (DISCA)
Martingale Asset Management L P lifted its holdings in Discovery Communications, Inc. (NASDAQ:DISCA) by 481.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,521 shares of the company’s stock after buying an additional 98,968 shares during the period. Martingale Asset Management L P’s holdings in Discovery Communications were worth $3,088,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of DISCA. Daiwa Securities Group Inc. increased its position in Discovery Communications by 24.7% during the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after purchasing an additional 900 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Discovery Communications during the first quarter worth about $134,000. Ballentine Partners LLC acquired a new stake in Discovery Communications during the second quarter worth about $133,000. Ameritas Investment Partners Inc. acquired a new stake in Discovery Communications during the first quarter worth about $182,000. Finally, Horizon Investment Services LLC acquired a new stake in Discovery Communications during the first quarter worth about $202,000. 45.84% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Paul J. Guagliardo acquired 10,000 shares of the stock in a transaction on Friday, August 18th. The stock was bought at an average price of $22.71 per share, with a total value of $227,100.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels acquired 15,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $21.70 per share, with a total value of $325,500.00. Following the transaction, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at $759,500. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 55,000 shares of company stock valued at $1,243,300. Corporate insiders own 6.81% of the company’s stock.
DISCA has been the subject of a number of recent analyst reports. MKM Partners reiterated a “neutral” rating and set a $26.00 price target (down from $30.00) on shares of Discovery Communications in a research report on Wednesday, August 2nd. Cowen and Company reiterated a “hold” rating and set a $29.00 price target on shares of Discovery Communications in a research report on Tuesday, July 11th. Barrington Research reiterated a “market perform” rating on shares of Discovery Communications in a research report on Wednesday, August 2nd. Pivotal Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada dropped their price target on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Discovery Communications presently has an average rating of “Hold” and an average price target of $27.13.
Discovery Communications, Inc. (NASDAQ DISCA) opened at 21.94 on Monday. The company has a 50 day moving average of $22.77 and a 200-day moving average of $26.05. Discovery Communications, Inc. has a one year low of $20.53 and a one year high of $30.25. The firm has a market cap of $12.51 billion, a PE ratio of 11.64 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, equities research analysts predict that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
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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