Convergence Investment Partners LLC increased its position in Discovery Communications, Inc. (NASDAQ:DISCA) by 44.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,895 shares of the company’s stock after buying an additional 45,059 shares during the period. Convergence Investment Partners LLC’s holdings in Discovery Communications were worth $3,768,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DISCA. Northern Capital Management LLC raised its position in shares of Discovery Communications by 5.5% in the first quarter. Northern Capital Management LLC now owns 28,430 shares of the company’s stock valued at $827,000 after buying an additional 1,485 shares during the last quarter. Douglas Lane & Associates LLC raised its position in shares of Discovery Communications by 2.9% in the first quarter. Douglas Lane & Associates LLC now owns 37,544 shares of the company’s stock valued at $1,092,000 after buying an additional 1,050 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new position in shares of Discovery Communications during the first quarter valued at $189,000. Nisa Investment Advisors LLC raised its position in shares of Discovery Communications by 8.4% in the first quarter. Nisa Investment Advisors LLC now owns 40,557 shares of the company’s stock valued at $1,180,000 after buying an additional 3,146 shares during the last quarter. Finally, DnB Asset Management AS raised its position in shares of Discovery Communications by 19.9% in the first quarter. DnB Asset Management AS now owns 13,267 shares of the company’s stock valued at $386,000 after buying an additional 2,200 shares during the last quarter. 44.31% of the stock is owned by institutional investors and hedge funds.

Discovery Communications, Inc. (NASDAQ:DISCA) opened at 22.91 on Friday. The firm’s 50 day moving average price is $25.61 and its 200-day moving average price is $27.14. The company has a market capitalization of $13.06 billion, a PE ratio of 12.15 and a beta of 1.59. Discovery Communications, Inc. has a one year low of $22.82 and a one year high of $30.25.

Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.04. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Equities analysts forecast that Discovery Communications, Inc. will post $2.24 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Discovery Communications, Inc. (DISCA) Shares Bought by Convergence Investment Partners LLC” was first reported by Watch List News and is owned by of Watch List News. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.watchlistnews.com/discovery-communications-inc-disca-shares-bought-by-convergence-investment-partners-llc/1477825.html.

Several equities analysts have commented on the company. Pivotal Research upgraded Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday. MKM Partners reiterated a “neutral” rating and set a $26.00 price target (down previously from $30.00) on shares of Discovery Communications in a report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price target on shares of Discovery Communications in a report on Friday, June 16th. Royal Bank Of Canada set a $32.00 price target on Discovery Communications and gave the company a “buy” rating in a report on Monday, June 12th. Finally, Credit Suisse Group reiterated an “underperform” rating and set a $24.00 price target on shares of Discovery Communications in a report on Saturday, July 22nd. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Discovery Communications currently has a consensus rating of “Hold” and an average target price of $28.25.

In other Discovery Communications news, Director S Decker Anstrom acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average cost of $23.05 per share, for a total transaction of $230,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Campbell sold 9,283 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The disclosure for this sale can be found here. Corporate insiders own 5.78% of the company’s stock.

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.

Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Communications, Inc. (NASDAQ:DISCA).

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

Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.