M&T Bank Corp lessened its stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,999 shares of the company’s stock after selling 1,838 shares during the period. M&T Bank Corp’s holdings in Discovery Communications were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of DISCA. Comerica Bank raised its holdings in shares of Discovery Communications by 4.6% during the 1st quarter. Comerica Bank now owns 48,580 shares of the company’s stock worth $1,428,000 after acquiring an additional 2,145 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Discovery Communications by 21.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,257,074 shares of the company’s stock worth $36,568,000 after acquiring an additional 218,809 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Discovery Communications by 9.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,615 shares of the company’s stock worth $512,000 after acquiring an additional 1,578 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Discovery Communications during the 1st quarter worth $368,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Discovery Communications during the 1st quarter worth $182,000. Institutional investors and hedge funds own 45.84% of the company’s stock.

In related news, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was acquired at an average price of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the purchase, the chief financial officer now owns 35,000 shares in the company, valued at $759,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul J. Guagliardo bought 10,000 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average price of $22.71 per share, with a total value of $227,100.00. Following the purchase, the insider now owns 10,000 shares of the company’s stock, valued at approximately $227,100. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 55,000 shares of company stock worth $1,243,300. Company insiders own 6.81% of the company’s stock.

Several brokerages recently issued reports on DISCA. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Cowen and Company restated a “hold” rating and issued a $29.00 price objective on shares of Discovery Communications in a report on Tuesday, July 11th. Piper Jaffray Companies began coverage on shares of Discovery Communications in a report on Friday, August 11th. They issued a “neutral” rating and a $27.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price objective on shares of Discovery Communications in a report on Friday, July 14th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $30.00 price objective (down from $32.00) on shares of Discovery Communications in a report on Friday, July 14th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.07.

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Discovery Communications, Inc. (DISCA) opened at 21.41 on Friday. The firm has a 50-day moving average price of $21.73 and a 200 day moving average price of $25.34. Discovery Communications, Inc. has a 52-week low of $20.14 and a 52-week high of $30.25. The firm has a market capitalization of $12.20 billion, a P/E ratio of 11.36 and a beta of 1.56.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings data on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.04). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.71 earnings per share. Analysts forecast that Discovery Communications, Inc. will post $2.24 EPS 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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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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