Koch Industries Inc. Invests $256,000 in Discovery Communications, Inc. (DISCA)
Koch Industries Inc. acquired a new position in shares of Discovery Communications, Inc. (NASDAQ:DISCA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 266,395 shares of the company’s stock, valued at approximately $256,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after acquiring an additional 8,971,338 shares during the last quarter. FMR LLC boosted its holdings in Discovery Communications by 32.7% in the second quarter. FMR LLC now owns 4,938,569 shares of the company’s stock valued at $127,563,000 after acquiring an additional 1,216,517 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Discovery Communications by 5.2% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 18,606,223 shares of the company’s stock valued at $480,599,000 after acquiring an additional 917,632 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Discovery Communications by 5.4% in the second quarter. Vanguard Group Inc. now owns 16,661,316 shares of the company’s stock valued at $430,362,000 after acquiring an additional 858,015 shares during the last quarter. Finally, Bridgewater Associates LP acquired a new position in Discovery Communications in the second quarter valued at $14,672,000. Institutional investors and hedge funds own 45.83% of the company’s stock.
In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $21.70 per share, for a total transaction of $325,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 35,000 shares of the company’s stock, valued at $759,500. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director S Decker Anstrom purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average price of $23.05 per share, with a total value of $230,500.00. The disclosure for this purchase can be found here. Insiders have acquired 55,000 shares of company stock valued at $1,243,300 over the last 90 days. Corporate insiders own 6.81% of the company’s stock.
Shares of Discovery Communications, Inc. (DISCA) opened at 20.09 on Friday. Discovery Communications, Inc. has a 12 month low of $19.01 and a 12 month high of $30.25. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 10.66 and a beta of 1.56. The stock’s 50 day moving average price is $21.02 and its 200-day moving average price is $24.82.
Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.04). Discovery Communications had a net margin of 16.88% and a return on equity of 22.74%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Discovery Communications, Inc. will post $2.22 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on DISCA shares. BidaskClub cut Discovery Communications from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Cowen and Company reiterated a “hold” rating and issued a $29.00 target price on shares of Discovery Communications in a report on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 target price on shares of Discovery Communications in a report on Friday, July 14th. Deutsche Bank AG reiterated a “hold” rating and issued a $30.00 target price (down previously from $32.00) on shares of Discovery Communications in a report on Friday, July 14th. Finally, Wells Fargo & Co started coverage on Discovery Communications in a report on Thursday, July 20th. They issued a “market perform” rating and a $28.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.57.
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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.
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