Discovery Communications, Inc. (DISCA) Position Reduced by American International Group Inc.
American International Group Inc. trimmed its holdings in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,230 shares of the company’s stock after selling 5,713 shares during the quarter. American International Group Inc.’s holdings in Discovery Communications were worth $1,474,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of DISCA. Tower Research Capital LLC TRC boosted its holdings in shares of Discovery Communications by 437.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,969 shares of the company’s stock worth $102,000 after purchasing an additional 3,230 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Discovery Communications in the 2nd quarter worth about $133,000. Montag A & Associates Inc. purchased a new position in shares of Discovery Communications in the 2nd quarter worth about $209,000. OLD National Bancorp IN purchased a new position in shares of Discovery Communications in the 3rd quarter worth about $222,000. Finally, MUFG Americas Holdings Corp boosted its holdings in shares of Discovery Communications by 13.9% in the 2nd quarter. MUFG Americas Holdings Corp now owns 8,997 shares of the company’s stock worth $232,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 48.25% of the company’s stock.
In other news, Director J David Wargo bought 80,000 shares of Discovery Communications stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $15.80 per share, for a total transaction of $1,264,000.00. Following the acquisition, the director now owns 147,591 shares of the company’s stock, valued at $2,331,937.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John C. Malone bought 332,523 shares of Discovery Communications stock in a transaction on Wednesday, December 13th. The shares were purchased at an average price of $19.72 per share, for a total transaction of $6,557,353.56. Following the acquisition, the director now directly owns 671,095 shares in the company, valued at approximately $13,233,993.40. The disclosure for this purchase can be found here. Insiders have acquired a total of 527,523 shares of company stock valued at $9,629,104 in the last ninety days. 6.81% of the stock is currently owned by corporate insiders.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 EPS. equities research analysts forecast that Discovery Communications, Inc. will post 1.94 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on DISCA. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price (down previously from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. UBS raised Discovery Communications from a “sell” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $23.00 in a research note on Tuesday, September 26th. Jefferies Group lowered their target price on Discovery Communications from $27.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Needham & Company LLC reissued a “hold” rating on shares of Discovery Communications in a research note on Thursday, October 12th. Finally, ValuEngine raised Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Discovery Communications presently has an average rating of “Hold” and a consensus target price of $23.67.
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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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