BidaskClub Downgrades Discovery Communications (DISCA) to Hold
BidaskClub lowered shares of Discovery Communications (NASDAQ:DISCA) from a buy rating to a hold rating in a research note released on Saturday.
DISCA has been the topic of a number of other research reports. Bank of America upgraded Discovery Communications from a neutral rating to a buy rating and set a $30.00 price target on the stock in a research note on Thursday, December 21st. Deutsche Bank dropped their price target on Discovery Communications from $26.00 to $21.00 and set a hold rating on the stock in a research note on Thursday, November 30th. Royal Bank of Canada restated an outperform rating and issued a $24.00 price target (down previously from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Barclays dropped their price target on Discovery Communications from $25.00 to $18.00 and set an underweight rating on the stock in a research note on Friday, October 13th. Finally, ValuEngine raised Discovery Communications from a hold rating to a buy rating in a report on Wednesday, October 11th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $24.17.
Shares of Discovery Communications (NASDAQ DISCA) opened at $21.65 on Friday. Discovery Communications has a 12 month low of $15.99 and a 12 month high of $30.25. The company has a quick ratio of 5.87, a current ratio of 5.87 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $7,970.00, a price-to-earnings ratio of 17.05, a P/E/G ratio of 1.10 and a beta of 1.56.
In other news, insider Bruce Campbell sold 15,976 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the sale, the insider now directly owns 85,298 shares of the company’s stock, valued at approximately $1,833,907. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels bought 15,000 shares of Discovery Communications stock in a transaction dated Friday, November 3rd. The shares were bought at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the completion of the acquisition, the chief financial officer now owns 50,000 shares in the company, valued at approximately $772,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 527,523 shares of company stock worth $9,629,104. Insiders own 6.81% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DISCA. Bank of New York Mellon Corp grew its holdings in shares of Discovery Communications by 12.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,966,987 shares of the company’s stock worth $254,779,000 after purchasing an additional 1,297,175 shares in the last quarter. FMR LLC grew its holdings in shares of Discovery Communications by 32.7% during the 2nd quarter. FMR LLC now owns 4,938,569 shares of the company’s stock worth $127,563,000 after purchasing an additional 1,216,517 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Discovery Communications by 5.2% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock worth $480,599,000 after purchasing an additional 917,632 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Discovery Communications during the 3rd quarter worth $19,118,000. Finally, Vanguard Group Inc. lifted its position in shares of Discovery Communications by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock worth $430,362,000 after buying an additional 858,015 shares during the last quarter. 48.12% of the stock is currently owned by institutional investors.
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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