B. Riley Wealth Management Inc. purchased a new position in Discovery Communications Inc. (NASDAQ:DISCA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,560 shares of the company’s stock, valued at approximately $306,000.
Other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Discovery Communications in the third quarter worth $122,000. FNY Investment Advisers LLC purchased a new stake in Discovery Communications in the third quarter worth $172,000. Chicago Equity Partners LLC purchased a new stake in Discovery Communications in the third quarter worth $200,000. Engineers Gate Manager LP purchased a new stake in Discovery Communications in the third quarter worth $202,000. Finally, Westbourne Investment Advisors Inc. purchased a new stake in Discovery Communications in the third quarter worth $204,000. 41.82% of the stock is owned by institutional investors.
In other news, insider Bruce Campbell sold 31,462 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $30.00, for a total transaction of $943,860.00. Following the completion of the transaction, the insider now directly owns 72,256 shares in the company, valued at $2,167,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Leavy sold 39,278 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $31.65, for a total value of $1,243,148.70. The disclosure for this sale can be found here. Insiders have sold 178,740 shares of company stock valued at $5,335,549 over the last 90 days. Corporate insiders own 6.73% of the company’s stock.
Several brokerages have commented on DISCA. Pivotal Research reissued a “sell” rating and set a $27.00 price objective (up previously from $26.00) on shares of Discovery Communications in a research report on Friday, November 9th. ValuEngine raised Discovery Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Macquarie set a $38.00 price objective on Discovery Communications and gave the company a “buy” rating in a research report on Friday, September 14th. Imperial Capital lowered their price objective on Discovery Communications from $37.00 to $31.00 and set an “inline” rating for the company in a research report on Tuesday, December 4th. Finally, Royal Bank of Canada raised their price objective on Discovery Communications to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, September 19th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.79.
Shares of NASDAQ:DISCA opened at $25.05 on Friday. Discovery Communications Inc. has a 1-year low of $20.59 and a 1-year high of $34.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.61. The firm has a market cap of $14.07 billion, a PE ratio of 11.18, a P/E/G ratio of 0.37 and a beta of 1.24.
Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Discovery Communications had a negative net margin of 8.52% and a positive return on equity of 17.05%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. Discovery Communications’s revenue was up 57.0% compared to the same quarter last year. On average, sell-side analysts predict that Discovery Communications Inc. will post 2.72 EPS for the current fiscal year.
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About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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