Centre Asset Management LLC cut its stake in Discovery Communications Inc. (NASDAQ:DISCA) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 282,490 shares of the company’s stock after selling 16,710 shares during the quarter. Discovery Communications comprises approximately 2.2% of Centre Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Centre Asset Management LLC owned about 0.05% of Discovery Communications worth $9,249,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Evoke Wealth LLC acquired a new stake in shares of Discovery Communications during the 3rd quarter worth about $26,000. Covington Capital Management boosted its holdings in Discovery Communications by 106.0% during the 3rd quarter. Covington Capital Management now owns 1,030 shares of the company’s stock valued at $27,000 after acquiring an additional 530 shares during the period. CSat Investment Advisory L.P. boosted its holdings in Discovery Communications by 89.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 902 shares of the company’s stock valued at $28,000 after acquiring an additional 426 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Discovery Communications by 558.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,133 shares of the company’s stock valued at $30,000 after acquiring an additional 961 shares during the period. Finally, North Star Investment Management Corp. purchased a new position in Discovery Communications during the 3rd quarter valued at about $32,000. 35.40% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on DISCA. Imperial Capital upgraded Discovery Communications from an “in-line” rating to an “outperform” rating and raised their target price for the company from $29.00 to $34.00 in a report on Tuesday, October 22nd. UBS Group raised their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, November 11th. ValuEngine cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Rosenblatt Securities raised their target price on Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Sunday, November 10th. Finally, Wells Fargo & Co raised their target price on Discovery Communications from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.67.
Shares of DISCA traded up $0.11 during midday trading on Tuesday, hitting $31.90. The company had a trading volume of 3,733,241 shares, compared to its average volume of 3,771,230. The company’s 50-day simple moving average is $32.49 and its 200-day simple moving average is $29.81. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $16.73 billion, a P/E ratio of 15.12, a P/E/G ratio of 0.47 and a beta of 1.62. Discovery Communications Inc. has a 1 year low of $25.08 and a 1 year high of $33.65.
Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Discovery Communications had a return on equity of 23.29% and a net margin of 16.81%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. Equities analysts predict that Discovery Communications Inc. will post 3.67 earnings per share for the current fiscal year.
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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