Pinebridge Investments L.P. lowered its stake in Discovery Communications, Inc. (NASDAQ:DISCA) by 11.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 327,863 shares of the company’s stock after selling 43,863 shares during the quarter. Pinebridge Investments L.P. owned about 0.06% of Discovery Communications worth $8,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Martingale Asset Management L P lifted its position in shares of Discovery Communications by 0.3% during the first quarter. Martingale Asset Management L P now owns 20,553 shares of the company’s stock worth $598,000 after purchasing an additional 52 shares in the last quarter. 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 buying an additional 100 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Discovery Communications by 0.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,424 shares of the company’s stock worth $295,000 after buying an additional 102 shares during the period. Advantus Capital Management Inc increased its stake in shares of Discovery Communications by 0.9% during the first quarter. Advantus Capital Management Inc now owns 15,202 shares of the company’s stock worth $442,000 after buying an additional 130 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Discovery Communications by 1.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,339 shares of the company’s stock worth $330,000 after buying an additional 145 shares during the period. 45.84% of the stock is currently owned by institutional investors.

In other Discovery Communications news, CFO Gunnar Wiedenfels purchased 20,000 shares of Discovery Communications stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $23.01 per share, for a total transaction of $460,200.00. Following the transaction, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $460,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director S Decker Anstrom purchased 10,000 shares of Discovery Communications stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average price of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is owned by company insiders.

DISCA has been the topic of a number of recent research reports. ValuEngine lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Moffett Nathanson restated a “sell” rating on shares of Discovery Communications in a research note on Friday, June 9th. Royal Bank Of Canada set a $32.00 target price on shares of Discovery Communications and gave the stock a “buy” rating in a research note on Monday, June 12th. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $28.00 target price on shares of Discovery Communications in a research note on Friday, June 16th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.13.

Shares of Discovery Communications, Inc. (NASDAQ:DISCA) traded down 0.33% during midday trading on Wednesday, hitting $21.22. The company had a trading volume of 1,108,885 shares. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 11.26 and a beta of 1.59. Discovery Communications, Inc. has a 12 month low of $20.14 and a 12 month high of $30.25. The stock’s 50-day moving average price is $22.52 and its 200-day moving average price is $25.91.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings data 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. Discovery Communications’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 earnings per share. On average, equities research analysts forecast that Discovery Communications, Inc. will post $2.24 EPS for the current year.

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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 (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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