Alpine Associates Management Inc. purchased a new stake in Discovery Communications, Inc. (NASDAQ:DISCA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 475,100 shares of the company’s stock, valued at approximately $10,115,000. Discovery Communications makes up about 0.3% of Alpine Associates Management Inc.’s portfolio, making the stock its 28th largest position. Alpine Associates Management Inc. owned about 0.13% of Discovery Communications as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in shares of Discovery Communications by 20.9% in the 3rd quarter. Stifel Financial Corp now owns 525,908 shares of the company’s stock worth $11,207,000 after buying an additional 90,802 shares in the last quarter. OxFORD Asset Management LLP raised its holdings in shares of Discovery Communications by 41.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 36,406 shares of the company’s stock worth $781,000 after buying an additional 10,664 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Discovery Communications by 77.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 22,145 shares of the company’s stock worth $471,000 after buying an additional 9,652 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Discovery Communications by 25.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock worth $40,058,000 after buying an additional 383,048 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Discovery Communications by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock worth $398,758,000 after buying an additional 123,603 shares in the last quarter. 48.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. B. Riley reissued a “neutral” rating and issued a $19.00 target price (down from $23.00) on shares of Discovery Communications in a report on Wednesday, November 1st. Royal Bank Of Canada dropped their target price on Discovery Communications from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, August 17th. Piper Jaffray Companies assumed coverage on Discovery Communications in a report on Friday, August 11th. They issued a “neutral” rating and a $27.00 target price for the company. Deutsche Bank dropped their target price on Discovery Communications from $26.00 to $21.00 and set a “hold” rating for the company in a report on Thursday. Finally, BidaskClub cut Discovery Communications from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $23.67.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.12). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Discovery Communications had a return on equity of 22.24% and a net margin of 16.63%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. analysts anticipate that Discovery Communications, Inc. will post 1.97 earnings per share for the current year.
In other news, CFO Gunnar Wiedenfels acquired 15,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $15.45 per share, for a total transaction of $231,750.00. Following the transaction, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $772,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director J David Wargo acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $15.76 per share, for a total transaction of $1,576,000.00. Following the completion of the transaction, the director now directly owns 147,591 shares in the company, valued at approximately $2,326,034.16. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 195,000 shares of company stock worth $3,071,750. 6.81% of the stock is owned by corporate insiders.
Discovery Communications Profile
Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.
Receive News & Ratings for Discovery Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.