Shelton Capital Management Sells 6,067 Shares of Discovery Communications, Inc. (DISCA)
Shelton Capital Management lowered its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 38.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,823 shares of the company’s stock after selling 6,067 shares during the period. Shelton Capital Management’s holdings in Discovery Communications were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its stake in shares of Discovery Communications by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Discovery Communications by 0.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,424 shares of the company’s stock worth $295,000 after acquiring an additional 102 shares during the period. Advantus Capital Management Inc increased its stake in Discovery Communications by 0.9% during the 1st quarter. Advantus Capital Management Inc now owns 15,202 shares of the company’s stock worth $442,000 after acquiring an additional 130 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Discovery Communications by 1.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,339 shares of the company’s stock worth $330,000 after acquiring an additional 145 shares during the period. Finally, American International Group Inc. increased its stake in Discovery Communications by 0.3% during the 1st quarter. American International Group Inc. now owns 73,984 shares of the company’s stock worth $2,152,000 after acquiring an additional 192 shares during the period. Institutional investors own 45.83% of the company’s stock.
In related news, Director S Decker Anstrom acquired 10,000 shares of Discovery Communications stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average cost of $23.05 per share, with a total value of $230,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of Discovery Communications stock in a transaction dated Tuesday, August 1st. The shares were bought at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the purchase, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $460,200. The disclosure for this purchase can be found here. In the last three months, insiders purchased 55,000 shares of company stock worth $1,243,300. 6.81% of the stock is owned by insiders.
Shares of Discovery Communications, Inc. (DISCA) opened at 19.06 on Tuesday. The firm has a market cap of $10.86 billion, a P/E ratio of 10.11 and a beta of 1.56. The company’s 50 day moving average price is $21.33 and its 200 day moving average price is $25.03. Discovery Communications, Inc. has a 12-month low of $18.98 and a 12-month high of $30.25.
Discovery Communications (NASDAQ:DISCA) last released 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). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Equities research analysts forecast that Discovery Communications, Inc. will post $2.22 EPS for the current year.
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A number of equities analysts have commented on the company. MKM Partners restated a “neutral” rating and set a $26.00 price objective (down previously from $30.00) on shares of Discovery Communications in a research note on Wednesday, August 2nd. Pivotal Research upgraded Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Tuesday, August 8th. Barrington Research restated a “market perform” rating on shares of Discovery Communications in a research note on Wednesday, August 2nd. Royal Bank Of Canada lowered their price objective on Discovery Communications from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, August 17th. Finally, Sanford C. Bernstein restated an “underperform” rating on shares of Discovery Communications in a research note on Tuesday, September 12th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Discovery Communications currently has an average rating of “Hold” and a consensus price target of $26.57.
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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