Jolley Asset Management LLC lifted its position in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,290 shares of the company’s stock after purchasing an additional 420 shares during the period. Jolley Asset Management LLC’s holdings in Discovery Communications were worth $893,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. acquired a new stake in Discovery Communications in the second quarter valued at $133,000. Central Bank & Trust Co. raised its holdings in Discovery Communications by 12.1% in the fourth quarter. Central Bank & Trust Co. now owns 135,341 shares of the company’s stock valued at $4,430,000 after acquiring an additional 14,590 shares in the last quarter. Symons Capital Management Inc. acquired a new stake in Discovery Communications in the third quarter valued at $4,881,000. Zimmer Partners LP raised its holdings in Discovery Communications by 92.8% in the third quarter. Zimmer Partners LP now owns 1,759,100 shares of the company’s stock valued at $46,845,000 after acquiring an additional 846,600 shares in the last quarter. Finally, River & Mercantile Asset Management LLP raised its holdings in Discovery Communications by 1.5% in the second quarter. River & Mercantile Asset Management LLP now owns 203,842 shares of the company’s stock valued at $6,259,000 after acquiring an additional 3,100 shares in the last quarter. 35.40% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. Wells Fargo & Co upped their price target on shares of Discovery Communications from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barrington Research reaffirmed a “buy” rating and issued a $40.00 price target on shares of Discovery Communications in a report on Thursday, November 7th. UBS Group upped their price target on shares of Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Rosenblatt Securities upped their price target on shares of Discovery Communications from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Sunday, November 10th. Finally, ValuEngine cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.67.
Discovery Communications (NASDAQ:DISCA) last issued its earnings results on Thursday, November 7th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Discovery Communications had a net margin of 16.81% and a return on equity of 23.29%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. Analysts predict that Discovery Communications Inc. will post 3.7 earnings per share for the current fiscal year.
In other news, insider David Leavy sold 44,970 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $32.25, for a total transaction of $1,450,282.50. Following the completion of the transaction, the insider now owns 211,883 shares in the company, valued at $6,833,226.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Malone purchased 2,670,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were purchased at an average price of $28.03 per share, with a total value of $74,840,100.00. Following the transaction, the director now directly owns 10,317,937 shares of the company’s stock, valued at approximately $289,211,774.11. The disclosure for this purchase can be found here. Insiders have sold 70,570 shares of company stock worth $2,292,705 over the last three months. 4.43% of the stock is owned by corporate insiders.
Discovery Communications 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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