First Republic Investment Management Inc. Decreases Holdings in Discovery Communications, Inc. (DISCA)
First Republic Investment Management Inc. cut its holdings in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 29.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,934 shares of the company’s stock after selling 7,835 shares during the quarter. First Republic Investment Management Inc.’s holdings in Discovery Communications were worth $403,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Retirement Systems of Alabama lifted its holdings in shares of Discovery Communications by 1.1% during the 2nd quarter. Retirement Systems of Alabama now owns 74,557 shares of the company’s stock valued at $1,926,000 after buying an additional 775 shares during the last quarter. Beach Investment Management LLC. acquired a new stake in shares of Discovery Communications during the 2nd quarter valued at about $254,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Discovery Communications by 17.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 563,742 shares of the company’s stock valued at $14,562,000 after buying an additional 82,427 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Discovery Communications by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock valued at $984,000 after buying an additional 300 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Discovery Communications by 19.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 33,054 shares of the company’s stock valued at $901,000 after buying an additional 5,312 shares during the last quarter. Hedge funds and other institutional investors own 48.25% of the company’s stock.
Shares of Discovery Communications, Inc. (NASDAQ DISCA) opened at $21.04 on Monday. The stock has a market capitalization of $7,975.30, a P/E ratio of 10.12, a PEG ratio of 1.19 and a beta of 1.55. 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, Inc. has a 1 year low of $15.99 and a 1 year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The firm 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 business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. analysts predict that Discovery Communications, Inc. will post 1.94 EPS for the current year.
Several equities research analysts have recently issued reports on DISCA shares. Royal Bank of Canada reiterated a “buy” rating and set a $29.00 price target on shares of Discovery Communications in a report on Friday, October 20th. Credit Suisse Group upgraded Discovery Communications from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $22.00 in a report on Thursday, September 14th. ValuEngine lowered Discovery Communications from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered Discovery Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Discovery Communications in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $23.67.
In related news, CFO Gunnar Wiedenfels purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $15.45 per share, with a total value of $231,750.00. Following the purchase, the chief financial officer now directly owns 50,000 shares in the company, valued at $772,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Campbell sold 3,047 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $18.17, for a total value of $55,363.99. Following the completion of the sale, the insider now directly owns 43,173 shares in the company, valued at approximately $784,453.41. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 527,523 shares of company stock worth $9,629,104. 6.81% of the stock is owned by insiders.
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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.
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