Discovery Communications, Inc. (DISCA) Position Raised by Rafferty Asset Management LLC
Rafferty Asset Management LLC boosted its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 620.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 147,817 shares of the company’s stock after buying an additional 127,292 shares during the quarter. Rafferty Asset Management LLC’s holdings in Discovery Communications were worth $3,818,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its holdings in Discovery Communications by 24.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock worth $132,000 after purchasing an additional 900 shares in the last quarter. Acadian Asset Management LLC bought a new position in Discovery Communications in the 1st quarter worth $134,000. Ballentine Partners LLC bought a new position in Discovery Communications in the 2nd quarter worth $133,000. Ameritas Investment Partners Inc. bought a new position in Discovery Communications in the 1st quarter worth $182,000. Finally, Horizon Investment Services LLC bought a new position in Discovery Communications in the 1st quarter worth $202,000. Institutional investors own 45.84% of the company’s stock.
Several brokerages have commented on DISCA. Credit Suisse Group upgraded shares of Discovery Communications from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Thursday, September 14th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Discovery Communications in a research report on Tuesday, September 12th. Cowen and Company reaffirmed a “hold” rating and issued a $25.00 target price on shares of Discovery Communications in a research report on Friday, September 8th. ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of Discovery Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.13.
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In other Discovery Communications news, CFO Gunnar Wiedenfels purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $460,200. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul J. Guagliardo purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $227,100. The disclosure for this purchase can be found here. Insiders have bought 55,000 shares of company stock worth $1,243,300 in the last 90 days. Insiders own 6.81% of the company’s stock.
Shares of Discovery Communications, Inc. (DISCA) traded down 0.28% during mid-day trading on Wednesday, reaching $21.23. 315,738 shares of the company traded hands. The firm has a 50 day moving average of $22.52 and a 200-day moving average of $25.91. Discovery Communications, Inc. has a 52 week low of $20.14 and a 52 week high of $30.25. The stock has a market capitalization of $12.10 billion, a PE ratio of 11.26 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
Discovery Communications 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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