BidaskClub downgraded shares of Discovery Communications (NASDAQ:DISCA) from a strong-buy rating to a buy rating in a report published on Thursday.
Several other equities analysts also recently issued reports on DISCA. TheStreet upgraded shares of Discovery Communications from a c rating to a b rating in a research note on Tuesday, February 26th. Zacks Investment Research upgraded shares of Discovery Communications from a hold rating to a buy rating and set a $28.00 price objective for the company in a research note on Wednesday, January 2nd. Citigroup upped their price objective on shares of Discovery Communications from $34.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, November 20th. MKM Partners upped their price objective on shares of Discovery Communications from $40.00 to $42.00 and gave the company a buy rating in a research note on Wednesday, November 14th. Finally, Barrington Research restated a buy rating and issued a $40.00 price objective on shares of Discovery Communications in a research note on Tuesday, February 26th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Discovery Communications currently has an average rating of Buy and an average price target of $33.03.
Shares of Discovery Communications stock traded up $0.20 during trading hours on Thursday, reaching $27.63. 596,540 shares of the company were exchanged, compared to its average volume of 3,869,865. Discovery Communications has a 1 year low of $20.59 and a 1 year high of $34.89. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $14.10 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.31 and a beta of 1.37.
In related news, General Counsel Savalle Sims sold 16,623 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $28.57, for a total value of $474,919.11. Following the completion of the sale, the general counsel now owns 48,684 shares in the company, valued at $1,390,901.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.73% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Discovery Communications by 19.2% in the fourth quarter. Geode Capital Management LLC now owns 2,741,634 shares of the company’s stock valued at $67,746,000 after buying an additional 441,740 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Discovery Communications in the fourth quarter valued at about $300,000. Norges Bank purchased a new position in shares of Discovery Communications during the 4th quarter worth approximately $8,821,000. Actinver Wealth Management Inc. purchased a new position in shares of Discovery Communications during the 4th quarter worth approximately $917,000. Finally, FMR LLC increased its stake in shares of Discovery Communications by 10.4% during the 4th quarter. FMR LLC now owns 13,217,760 shares of the company’s stock worth $327,007,000 after purchasing an additional 1,243,094 shares in the last quarter. Hedge funds and other institutional investors own 34.32% of the company’s stock.
About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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