Investors Sell Shares of Discovery Communications (DISCA) on Strength on Analyst Downgrade
Traders sold shares of Discovery Communications, Inc. (NASDAQ:DISCA) on strength during trading on Friday after Deutsche Bank lowered their price target on the stock from $26.00 to $21.00. $24.31 million flowed into the stock on the tick-up and $51.44 million flowed out of the stock on the tick-down, for a money net flow of $27.13 million out of the stock. Of all stocks tracked, Discovery Communications had the 0th highest net out-flow for the day. Discovery Communications traded up $0.44 for the day and closed at $19.46
DISCA has been the topic of a number of other reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 target price (down from $29.00) on shares of Discovery Communications in a research note on Friday, November 3rd. Barclays decreased their target price on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, October 13th. ValuEngine raised shares of Discovery Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Credit Suisse Group decreased their target price on shares of Discovery Communications from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, November 6th. Finally, Zacks Investment Research lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.67.
In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of Discovery Communications stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $15.45 per share, with a total value of $231,750.00. Following the transaction, the chief financial officer now owns 50,000 shares in the company, valued at $772,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director J David Wargo purchased 100,000 shares of Discovery Communications stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $15.76 per share, for a total transaction of $1,576,000.00. Following the transaction, the director now owns 147,591 shares in the company, valued at approximately $2,326,034.16. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 195,000 shares of company stock worth $3,071,750. Corporate insiders own 6.81% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp acquired a new stake in Discovery Communications in the 3rd quarter valued at approximately $335,000. Arizona State Retirement System increased its holdings in Discovery Communications by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock valued at $984,000 after purchasing an additional 300 shares during the last quarter. Jennison Associates LLC increased its holdings in Discovery Communications by 7.6% in the 2nd quarter. Jennison Associates LLC now owns 25,051 shares of the company’s stock valued at $647,000 after purchasing an additional 1,775 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Discovery Communications by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,304 shares of the company’s stock valued at $12,045,000 after purchasing an additional 11,792 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Discovery Communications by 3.3% in the 2nd quarter. Swiss National Bank now owns 556,088 shares of the company’s stock valued at $14,364,000 after purchasing an additional 17,700 shares during the last quarter. 48.25% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 2.56, a quick ratio of 5.87 and a current ratio of 5.87. The company has a market cap of $7,209.61, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 1.03 and a beta of 1.55.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Thursday, November 2nd. The company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). Discovery Communications had a net margin of 16.63% and a return on equity of 22.24%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that Discovery Communications, Inc. will post 2.02 earnings per share 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.
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