Discovery Communications (DISCA) Sees Unusually-High Trading Volume After Insider Buying Activity
Discovery Communications, Inc. (NASDAQ:DISCA) saw unusually-strong trading volume on Friday after an insider bought additional shares in the company. Approximately 19,055,475 shares changed hands during trading, an increase of 379% from the previous session’s volume of 3,981,324 shares.The stock last traded at $21.04 and had previously closed at $20.04.
Specifically, Director J David Wargo purchased 100,000 shares of the stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $15.76 per share, with a total value of $1,576,000.00. Following the transaction, the director now owns 147,591 shares in the company, valued at approximately $2,326,034.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the transaction, 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. In the last ninety days, insiders have acquired 527,523 shares of company stock worth $9,629,104. 6.81% of the stock is currently owned by corporate insiders.
A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $29.00 price target on shares of Discovery Communications in a research note on Friday, October 20th. ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Needham & Company LLC reiterated a “hold” rating on shares of Discovery Communications in a research note on Thursday, October 12th. Finally, Cowen restated a “hold” rating and set a $25.00 target price on shares of Discovery Communications in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.67.
The firm has a market cap of $7,660.00, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.12 and a beta of 1.56. The company has a current ratio of 5.87, a quick ratio of 5.87 and a debt-to-equity ratio of 2.56.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. Discovery Communications’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. research analysts anticipate that Discovery Communications, Inc. will post 1.94 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of DISCA. Tower Research Capital LLC TRC raised its position in Discovery Communications by 437.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after acquiring an additional 3,230 shares in the last quarter. Ballentine Partners LLC purchased a new position in Discovery Communications in the second quarter worth $133,000. Flossbach Von Storch AG purchased a new position in Discovery Communications in the third quarter worth $208,000. Montag A & Associates Inc. purchased a new position in Discovery Communications in the second quarter worth $209,000. Finally, OLD National Bancorp IN purchased a new position in shares of Discovery Communications in the third quarter valued at $222,000. 48.25% of the stock is owned by institutional investors and hedge funds.
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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