Short Interest in Discovery Communications, Inc. (NASDAQ:DISCA) Grows By 21.8%
Discovery Communications, Inc. (NASDAQ:DISCA) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 35,865,303 shares, a growth of 21.8% from the July 14th total of 29,455,616 shares. Approximately 23.8% of the company’s shares are short sold. Based on an average daily trading volume, of 7,807,976 shares, the days-to-cover ratio is presently 4.6 days.
Discovery Communications (NASDAQ DISCA) opened at 23.00 on Friday. Discovery Communications has a one year low of $22.87 and a one year high of $30.25. The stock has a 50 day moving average price of $25.69 and a 200 day moving average price of $27.18. The company has a market cap of $13.11 billion, a PE ratio of 12.20 and a beta of 1.59.
Discovery Communications (NASDAQ:DISCA) last posted its earnings results on Monday, July 31st. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.04. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that Discovery Communications will post $2.24 EPS for the current fiscal year.
In related news, insider Bruce Campbell sold 9,283 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total transaction of $245,349.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels acquired 20,000 shares of the company’s stock in a transaction that occurred 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 purchase, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $460,200. The disclosure for this purchase can be found here. Company insiders own 5.78% of the company’s stock.
Large investors have recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. raised its stake in Discovery Communications by 5.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,915 shares of the company’s stock valued at $106,000 after buying an additional 215 shares during the period. Daiwa Securities Group Inc. raised its stake in Discovery Communications by 24.7% in the first quarter. Daiwa Securities Group Inc. now owns 4,540 shares of the company’s stock valued at $132,000 after buying an additional 900 shares during the period. Ballentine Partners LLC purchased a new stake in Discovery Communications during the second quarter valued at approximately $133,000. Acadian Asset Management LLC purchased a new stake in Discovery Communications during the first quarter valued at approximately $134,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Discovery Communications during the first quarter valued at approximately $182,000. Institutional investors own 44.31% of the company’s stock.
DISCA has been the topic of several research analyst reports. BidaskClub raised Discovery Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Cowen and Company reaffirmed a “hold” rating and set a $29.00 price objective on shares of Discovery Communications in a research note on Tuesday, July 11th. Moffett Nathanson reaffirmed a “sell” rating on shares of Discovery Communications in a research note on Friday, June 9th. TheStreet raised Discovery Communications from a “c+” rating to a “b-” rating in a research note on Thursday, April 20th. Finally, Citigroup Inc raised Discovery Communications from a “sell” rating to a “neutral” rating in a research note on Thursday, April 20th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.33.
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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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