Manning & Napier Advisors LLC Increases Stake in Discovery Communications, Inc. (DISCA)
Manning & Napier Advisors LLC boosted its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 8.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,730 shares of the company’s stock after buying an additional 26,880 shares during the period. Manning & Napier Advisors LLC’s holdings in Discovery Communications were worth $9,603,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DISCA. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Discovery Communications by 0.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,800 shares of the company’s stock worth $893,000 after buying an additional 42 shares in the last quarter. World Asset Management Inc increased its stake in Discovery Communications by 3.6% in the third quarter. World Asset Management Inc now owns 15,917 shares of the company’s stock worth $428,000 after buying an additional 560 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Discovery Communications by 32.5% in the third quarter. Douglas Lane & Associates LLC now owns 36,994 shares of the company’s stock worth $996,000 after buying an additional 9,069 shares in the last quarter. Northpointe Capital LLC increased its stake in Discovery Communications by 57.7% in the third quarter. Northpointe Capital LLC now owns 138,172 shares of the company’s stock worth $3,720,000 after buying an additional 50,560 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Discovery Communications during the third quarter worth about $4,122,000. 41.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Discovery Communications, Inc. (NASDAQ:DISCA) opened at 27.20 on Friday. The stock has a 50 day moving average of $27.95 and a 200-day moving average of $26.34. The firm has a market capitalization of $12.43 billion, a P/E ratio of 15.38 and a beta of 1.59. Discovery Communications, Inc. has a 52-week low of $23.66 and a 52-week high of $29.75.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The firm earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Discovery Communications had a net margin of 17.14% and a return on equity of 22.76%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. Equities analysts expect that Discovery Communications, Inc. will post $1.91 earnings per share for the current fiscal year.
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A number of equities analysts recently commented on the company. Credit Suisse Group cut Discovery Communications from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $25.00 to $23.00 in a report on Tuesday. Pivotal Research reiterated a “hold” rating and set a $28.00 price target (down previously from $33.00) on shares of Discovery Communications in a report on Thursday. Zacks Investment Research upgraded Discovery Communications from a “sell” rating to a “hold” rating in a report on Tuesday, November 8th. Barrington Research cut Discovery Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, September 29th. Finally, Argus cut Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Discovery Communications currently has a consensus rating of “Hold” and a consensus price target of $29.50.
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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