HighTower Advisors LLC Has $2.06 Million Position in Discovery Communications, Inc. (DISCA)
HighTower Advisors LLC lowered its holdings in Discovery Communications, Inc. (NASDAQ:DISCA) by 49.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,712 shares of the company’s stock after selling 79,221 shares during the period. HighTower Advisors LLC’s holdings in Discovery Communications were worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in DISCA. Ballentine Partners LLC bought a new position in shares of Discovery Communications in the 2nd quarter valued at about $133,000. Ameritas Investment Partners Inc. bought a new position in shares of Discovery Communications in the 1st quarter valued at about $182,000. Horizon Investment Services LLC bought a new position in shares of Discovery Communications in the 1st quarter valued at about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Discovery Communications by 112.1% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock valued at $204,000 after acquiring an additional 3,700 shares during the period. Finally, Montag A & Associates Inc. bought a new position in shares of Discovery Communications in the 2nd quarter valued at about $209,000. 45.84% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Discovery Communications in a research report on Thursday, July 20th. They issued a “market perform” rating and a $28.00 price objective for the company. Royal Bank Of Canada set a $32.00 price objective on shares of Discovery Communications and gave the company a “buy” rating in a research report on Monday, June 12th. Credit Suisse Group restated an “underperform” rating and set a $24.00 target price on shares of Discovery Communications in a research note on Saturday, July 22nd. 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 research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.07.
In other Discovery Communications news, CFO Gunnar Wiedenfels purchased 20,000 shares of Discovery Communications stock in a transaction on Tuesday, August 1st. The shares were acquired at an average cost of $23.01 per share, for a total transaction of $460,200.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $460,200. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul J. Guagliardo purchased 10,000 shares of Discovery Communications stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $22.71 per share, for a total transaction of $227,100.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $227,100. The disclosure for this purchase can be found here. Insiders purchased 55,000 shares of company stock worth $1,243,300 over the last ninety days. 6.81% of the stock is currently owned by insiders.
Shares of Discovery Communications, Inc. (DISCA) opened at 21.41 on Friday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 11.36 and a beta of 1.56. The company’s 50 day moving average is $21.73 and its 200 day moving average is $25.34. Discovery Communications, Inc. has a one year low of $20.14 and a one year high of $30.25.
Discovery Communications (NASDAQ:DISCA) last announced its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Equities research analysts predict that Discovery Communications, Inc. will post $2.24 earnings per share for the current year.
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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