World Asset Management Inc Reduces Stake in Discovery Communications, Inc. (NASDAQ:DISCK)
World Asset Management Inc cut its position in Discovery Communications, Inc. (NASDAQ:DISCK) by 19.7% during the second quarter, Holdings Channel reports. The fund owned 20,619 shares of the company’s stock after selling 5,071 shares during the period. World Asset Management Inc’s holdings in Discovery Communications were worth $520,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in DISCK. Meeder Asset Management Inc. acquired a new stake in Discovery Communications during the first quarter worth approximately $178,000. Daiwa Securities Group Inc. increased its stake in Discovery Communications by 17.5% in the first quarter. Daiwa Securities Group Inc. now owns 6,370 shares of the company’s stock worth $180,000 after buying an additional 950 shares during the last quarter. Quantbot Technologies LP increased its stake in Discovery Communications by 1,035.8% in the first quarter. Quantbot Technologies LP now owns 6,622 shares of the company’s stock worth $187,000 after buying an additional 6,039 shares during the last quarter. Weik Investment Services Inc. acquired a new stake in Discovery Communications during the first quarter worth approximately $209,000. Finally, Creative Planning increased its stake in Discovery Communications by 1.0% in the second quarter. Creative Planning now owns 8,545 shares of the company’s stock worth $215,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 46.82% of the company’s stock.
Discovery Communications, Inc. (NASDAQ:DISCK) opened at 22.39 on Thursday. The stock has a 50 day moving average of $24.85 and a 200 day moving average of $26.47. The stock has a market capitalization of $12.76 billion, a P/E ratio of 11.88 and a beta of 1.47. Discovery Communications, Inc. has a 52-week low of $22.00 and a 52-week high of $29.18.
Discovery Communications (NASDAQ:DISCK) last announced its earnings results on Monday, July 31st. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.72 by $0.04. The company had revenue of $1.75 billion for the quarter. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. On average, equities research analysts forecast that Discovery Communications, Inc. will post $2.24 EPS for the current year.
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DISCK has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Discovery Communications from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, July 20th. TheStreet downgraded shares of Discovery Communications from a “b-” rating to a “c+” rating in a report on Wednesday, May 17th. BidaskClub upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of Discovery Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Barrington Research reissued a “market perform” rating on shares of Discovery Communications in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.00.
Discovery Communications Company 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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