Tyers Asset Management LLC Lowers Stake in Discovery Communications Inc. (NASDAQ:DISCA)

Tyers Asset Management LLC lessened its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 55.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 38,656 shares of the company’s stock after selling 48,112 shares during the period. Tyers Asset Management LLC’s holdings in Discovery Communications were worth $1,187,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. purchased a new stake in Discovery Communications during the 2nd quarter worth about $30,000. Parkside Financial Bank & Trust boosted its holdings in Discovery Communications by 131.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,013 shares of the company’s stock valued at $31,000 after purchasing an additional 576 shares in the last quarter. Thor Advisors LLC purchased a new position in Discovery Communications in the first quarter valued at approximately $29,000. Duncker Streett & Co. Inc. purchased a new position in Discovery Communications in the second quarter valued at approximately $37,000. Finally, TRUE Private Wealth Advisors acquired a new stake in Discovery Communications during the second quarter worth approximately $53,000. 34.08% of the stock is currently owned by institutional investors.

Shares of NASDAQ:DISCA traded down $0.34 during midday trading on Wednesday, reaching $28.09. The company’s stock had a trading volume of 202,365 shares, compared to its average volume of 3,604,571. The firm has a market cap of $14.68 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.37 and a beta of 1.57. The business has a 50 day moving average price of $28.70 and a 200 day moving average price of $29.05. Discovery Communications Inc. has a 1 year low of $23.79 and a 1 year high of $34.89. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Discovery Communications (NASDAQ:DISCA) last released its earnings results on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.01). Discovery Communications had a return on equity of 21.53% and a net margin of 15.62%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Discovery Communications’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that Discovery Communications Inc. will post 3.82 earnings per share for the current fiscal year.

DISCA has been the subject of several research reports. BidaskClub downgraded Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Imperial Capital reduced their target price on shares of Discovery Communications from $30.00 to $29.00 and set an “inline” rating for the company in a report on Tuesday, August 27th. Finally, Wolfe Research cut Discovery Communications from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.88.

In other news, Director Daniel E. Sanchez sold 1,059 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $28.40, for a total value of $30,075.60. Following the completion of the sale, the director now owns 16,789 shares in the company, valued at $476,807.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Savalle Sims sold 3,085 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.18, for a total value of $93,105.30. Following the sale, the general counsel now owns 46,388 shares in the company, valued at $1,399,989.84. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

Discovery Communications Company Profile

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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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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