Tower Research Capital LLC TRC Has $102,000 Stake in Discovery Communications, Inc. (DISCA)
Tower Research Capital LLC TRC grew its position in Discovery Communications, Inc. (NASDAQ:DISCA) by 437.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,969 shares of the company’s stock after purchasing an additional 3,230 shares during the period. Tower Research Capital LLC TRC’s holdings in Discovery Communications were worth $102,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in DISCA. Ballentine Partners LLC purchased a new stake in shares of Discovery Communications in the second quarter valued at about $133,000. Ameritas Investment Partners Inc. purchased a new stake in Discovery Communications during the first quarter worth about $182,000. Horizon Investment Services LLC purchased a new stake in Discovery Communications during the first quarter worth about $202,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Discovery Communications by 112.1% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,000 shares of the company’s stock worth $204,000 after buying an additional 3,700 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in Discovery Communications during the second quarter worth about $209,000. Institutional investors own 45.84% of the company’s stock.
A number of research firms recently issued reports on DISCA. Barclays PLC decreased their price objective on shares of Discovery Communications from $25.00 to $18.00 and set an “underweight” rating for the company in a report on Friday. Barrington Research restated a “market perform” rating on shares of Discovery Communications in a report on Wednesday, August 2nd. Royal Bank Of Canada decreased their price objective on shares of Discovery Communications from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, August 17th. Piper Jaffray Companies began coverage on shares of Discovery Communications in a report on Friday, August 11th. They set a “neutral” rating and a $27.00 price objective for the company. Finally, ValuEngine upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.57.
In other Discovery Communications news, Director S Decker Anstrom purchased 10,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average cost 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 available through the SEC website. Also, CFO Gunnar Wiedenfels purchased 20,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was 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 directly owns 20,000 shares in the company, valued at $460,200. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 55,000 shares of company stock valued at $1,243,300. 6.81% of the stock is currently owned by corporate insiders.
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Discovery Communications, Inc. (DISCA) traded down 0.21% during trading on Friday, hitting $19.24. 5,120,992 shares of the stock were exchanged. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 10.21 and a beta of 1.56. Discovery Communications, Inc. has a 1-year low of $19.01 and a 1-year high of $30.25. The company has a 50-day moving average price of $21.37 and a 200 day moving average price of $25.07.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. Equities analysts predict that Discovery Communications, Inc. will post $2.22 earnings per share for the current fiscal 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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