K2 Principal Fund L.P. Acquires New Position in Discovery Communications, Inc. (DISCK)
K2 Principal Fund L.P. acquired a new stake in Discovery Communications, Inc. (NASDAQ:DISCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,200 shares of the company’s stock, valued at approximately $358,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. acquired a new stake in Discovery Communications during the 2nd quarter valued at approximately $160,000. Meeder Asset Management Inc. acquired a new stake in Discovery Communications during the 1st quarter valued at approximately $178,000. Quantbot Technologies LP increased its position in Discovery Communications by 1,035.8% during the 1st quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock valued at $187,000 after purchasing an additional 6,039 shares during the period. Cadence Capital Management LLC increased its position in Discovery Communications by 0.7% during the 2nd quarter. Cadence Capital Management LLC now owns 8,111 shares of the company’s stock valued at $204,000 after purchasing an additional 55 shares during the period. Finally, Creative Planning increased its position in Discovery Communications by 1.0% during the 2nd quarter. Creative Planning now owns 8,545 shares of the company’s stock valued at $215,000 after purchasing an additional 87 shares during the period. 45.29% of the stock is owned by institutional investors.
A number of analysts have weighed in on DISCK shares. Zacks Investment Research raised shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, July 20th. BidaskClub downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Barrington Research reissued a “market perform” rating on shares of Discovery Communications in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $29.00.
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Shares of Discovery Communications, Inc. (DISCK) opened at 20.42 on Friday. The firm’s 50-day moving average is $21.29 and its 200-day moving average is $25.07. The firm has a market cap of $11.64 billion, a P/E ratio of 10.83 and a beta of 1.46. Discovery Communications, Inc. has a 52-week low of $19.36 and a 52-week high of $29.18.
Discovery Communications (NASDAQ:DISCK) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter. Analysts anticipate that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
About Discovery Communications
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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