PNC Financial Services Group Inc. Reduces Position in Discovery Communications, Inc. (DISCA)
PNC Financial Services Group Inc. lowered its holdings in shares of Discovery Communications, Inc. (NASDAQ:DISCA) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,887 shares of the company’s stock after selling 2,694 shares during the period. PNC Financial Services Group Inc.’s holdings in Discovery Communications were worth $979,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. American International Group Inc. boosted its stake in Discovery Communications by 0.3% during the first quarter. American International Group Inc. now owns 73,984 shares of the company’s stock worth $2,152,000 after acquiring an additional 192 shares in the last quarter. Arizona State Retirement System boosted its stake in Discovery Communications by 0.8% during the second quarter. Arizona State Retirement System now owns 38,100 shares of the company’s stock worth $984,000 after acquiring an additional 300 shares in the last quarter. Jennison Associates LLC boosted its stake in Discovery Communications by 7.6% during the second quarter. Jennison Associates LLC now owns 25,051 shares of the company’s stock worth $647,000 after acquiring an additional 1,775 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Discovery Communications by 2.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,304 shares of the company’s stock worth $12,045,000 after acquiring an additional 11,792 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Discovery Communications by 3.3% during the second quarter. Swiss National Bank now owns 556,088 shares of the company’s stock worth $14,364,000 after acquiring an additional 17,700 shares in the last quarter. 45.84% of the stock is currently owned by institutional investors and hedge funds.
In other Discovery Communications news, insider Paul J. Guagliardo acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $22.71 per share, for a total transaction of $227,100.00. Following the purchase, the insider now owns 10,000 shares in the company, valued at approximately $227,100. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were acquired at an average price of $23.01 per share, with a total value of $460,200.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Insiders purchased a total of 55,000 shares of company stock valued at $1,243,300 over the last quarter. 6.81% of the stock is owned by company insiders.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group upgraded shares of Discovery Communications from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a research note on Thursday, September 14th. Wells Fargo & Company assumed coverage on shares of Discovery Communications in a research note on Thursday, July 20th. They issued a “market perform” rating and a $28.00 target price on the stock. Finally, Cowen and Company reiterated a “hold” rating and issued a $25.00 target price on shares of Discovery Communications in a research note on Friday, September 8th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $27.07.
Discovery Communications, Inc. (NASDAQ:DISCA) opened at 20.83 on Tuesday. Discovery Communications, Inc. has a 12 month low of $20.14 and a 12 month high of $30.25. The company has a market cap of $11.87 billion, a P/E ratio of 11.05 and a beta of 1.56. The company’s 50-day moving average is $21.68 and its 200-day moving average is $25.26.
Discovery Communications (NASDAQ:DISCA) last released its earnings results on Monday, July 31st. The company reported $0.68 EPS 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 analyst estimates 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 for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.71 earnings per share. On average, equities research analysts expect that Discovery Communications, Inc. will post $2.24 EPS for the current fiscal year.
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Discovery Communications 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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