Sandy Spring Bank lifted its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 13.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 61,286 shares of the company’s stock after buying an additional 7,477 shares during the period. Sandy Spring Bank’s holdings in Discovery Communications were worth $1,656,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. State Treasurer State of Michigan increased its position in shares of Discovery Communications by 0.9% during the 1st quarter. State Treasurer State of Michigan now owns 45,249 shares of the company’s stock valued at $1,223,000 after purchasing an additional 400 shares during the last quarter. Voit & Company LLC increased its position in shares of Discovery Communications by 3.2% during the 1st quarter. Voit & Company LLC now owns 15,900 shares of the company’s stock valued at $430,000 after purchasing an additional 500 shares during the last quarter. Stephens Inc. AR increased its position in shares of Discovery Communications by 2.7% during the 1st quarter. Stephens Inc. AR now owns 21,872 shares of the company’s stock valued at $591,000 after purchasing an additional 567 shares during the last quarter. South Dakota Investment Council increased its position in shares of Discovery Communications by 9.2% during the 1st quarter. South Dakota Investment Council now owns 51,500 shares of the company’s stock valued at $1,392,000 after purchasing an additional 4,340 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Discovery Communications during the 1st quarter valued at $90,000. 34.25% of the stock is owned by institutional investors.
Shares of DISCA opened at $27.34 on Tuesday. Discovery Communications Inc. has a fifty-two week low of $20.59 and a fifty-two week high of $34.89. The stock has a market capitalization of $14.91 billion, a P/E ratio of 12.96, a PEG ratio of 0.40 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.
Several brokerages have recently issued reports on DISCA. BidaskClub lowered Discovery Communications from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. ValuEngine lowered Discovery Communications from a “hold” rating to a “sell” rating in a research report on Monday. Barrington Research reaffirmed a “buy” rating and set a $40.00 target price on shares of Discovery Communications in a research report on Tuesday, February 26th. Zacks Investment Research lowered Discovery Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Finally, Credit Suisse Group raised their target price on Discovery Communications from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.89.
In related news, General Counsel Savalle Sims sold 16,623 shares of Discovery Communications stock in a transaction dated Monday, March 4th. The stock was 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 of the company’s stock, valued at approximately $1,390,901.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.43% of the company’s stock.
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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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