Discovery Communications, Inc. (DISCA) Position Lowered by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. cut its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,784 shares of the company’s stock after selling 227 shares during the period. Pinnacle Associates Ltd.’s holdings in Discovery Communications were worth $2,050,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of DISCA. Nordea Investment Management AB boosted its position in Discovery Communications by 10.1% in the second quarter. Nordea Investment Management AB now owns 4,141 shares of the company’s stock worth $104,000 after buying an additional 381 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in Discovery Communications during the third quarter worth about $105,000. Toronto Dominion Bank boosted its position in Discovery Communications by 433.8% in the third quarter. Toronto Dominion Bank now owns 4,404 shares of the company’s stock worth $119,000 after buying an additional 3,579 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Discovery Communications by 113.8% in the third quarter. Acrospire Investment Management LLC now owns 6,200 shares of the company’s stock worth $167,000 after buying an additional 3,300 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in Discovery Communications by 57.9% in the third quarter. Advisor Group Inc. now owns 7,394 shares of the company’s stock worth $199,000 after buying an additional 2,711 shares in the last quarter. Institutional investors own 41.96% of the company’s stock.
Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded up 0.67% during mid-day trading on Friday, hitting $28.76. The stock had a trading volume of 964,130 shares. Discovery Communications, Inc. has a 1-year low of $23.66 and a 1-year high of $29.75. The firm has a market capitalization of $16.83 billion, a PE ratio of 14.67 and a beta of 1.60. The stock’s 50-day moving average is $27.86 and its 200-day moving average is $26.88.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Tuesday, February 14th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.09. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.69 billion. Discovery Communications had a return on equity of 22.76% and a net margin of 17.14%. Discovery Communications’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. Equities analysts expect that Discovery Communications, Inc. will post $2.22 earnings per share for the current year.
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A number of research analysts recently issued reports on DISCA shares. Barclays PLC cut Discovery Communications from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $28.00 to $25.00 in a report on Thursday, January 5th. Argus cut Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Zacks Investment Research cut Discovery Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 25th. RBC Capital Markets lifted their price target on Discovery Communications from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. Finally, Pivotal Research cut Discovery Communications from a “buy” rating to a “hold” rating and cut their price target for the company from $33.00 to $28.00 in a report on Thursday, January 12th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.57.
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 and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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