Korea Investment CORP cut its position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 18.2% during the second quarter, Holdings Channel reports. The firm owned 263,800 shares of the company’s stock after selling 58,700 shares during the period. Korea Investment CORP’s holdings in Discovery Communications were worth $6,814,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. American International Group Inc. increased its stake in Discovery Communications by 0.3% in the first quarter. American International Group Inc. now owns 73,984 shares of the company’s stock worth $2,152,000 after buying an additional 192 shares during the period. BlackRock Inc. boosted its position in Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after buying an additional 8,971,338 shares in the last quarter. Comerica Bank boosted its position in Discovery Communications by 4.6% in the first quarter. Comerica Bank now owns 48,580 shares of the company’s stock valued at $1,428,000 after buying an additional 2,145 shares in the last quarter. British Columbia Investment Management Corp boosted its position in Discovery Communications by 206.7% in the first quarter. British Columbia Investment Management Corp now owns 248,582 shares of the company’s stock valued at $7,231,000 after buying an additional 167,537 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in Discovery Communications by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 49,167 shares of the company’s stock valued at $1,430,000 after buying an additional 600 shares in the last quarter. Institutional investors own 44.31% of the company’s stock.

Shares of Discovery Communications, Inc. (NASDAQ DISCA) opened at 23.00 on Friday. The stock’s 50 day moving average price is $25.69 and its 200-day moving average price is $27.18. Discovery Communications, Inc. has a 12-month low of $22.87 and a 12-month high of $30.25. The firm has a market cap of $13.11 billion, a P/E ratio of 12.20 and a beta of 1.59.

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

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Several equities analysts recently weighed in on DISCA shares. TheStreet raised shares of Discovery Communications from a “c+” rating to a “b-” rating in a research note on Thursday, April 20th. Royal Bank Of Canada set a $32.00 target price on shares of Discovery Communications and gave the company a “buy” rating in a research note on Monday, June 12th. Citigroup Inc. raised shares of Discovery Communications from a “neutral” rating to a “buy” rating and decreased their target price for the company from $30.00 to $29.00 in a research note on Tuesday, August 1st. Pivotal Research raised shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $28.00 target price on shares of Discovery Communications in a research note on Friday, June 16th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Discovery Communications presently has a consensus rating of “Hold” and a consensus target price of $28.33.

In other news, Director S Decker Anstrom purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $23.05 per share, for a total transaction of $230,500.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bruce Campbell sold 9,283 shares of the 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. 5.78% of the stock is currently owned by corporate insiders.

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

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