Symons Capital Management Inc. Acquires New Position in Discovery Communications Inc. (NASDAQ:DISCA)

Symons Capital Management Inc. acquired a new stake in Discovery Communications Inc. (NASDAQ:DISCA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 183,298 shares of the company’s stock, valued at approximately $4,881,000. Discovery Communications makes up 2.2% of Symons Capital Management Inc.’s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Discovery Communications by 12.4% during the 2nd quarter. Vanguard Group Inc. now owns 19,303,196 shares of the company’s stock worth $592,608,000 after acquiring an additional 2,134,191 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Discovery Communications by 0.8% in the 2nd quarter. BlackRock Inc. now owns 10,691,122 shares of the company’s stock valued at $328,218,000 after buying an additional 85,421 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Discovery Communications by 62.7% in the 2nd quarter. Wells Fargo & Company MN now owns 3,453,246 shares of the company’s stock valued at $106,015,000 after buying an additional 1,330,279 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Discovery Communications by 6.5% in the 2nd quarter. Northern Trust Corp now owns 2,535,004 shares of the company’s stock valued at $77,825,000 after buying an additional 154,878 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Discovery Communications by 790.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,765,724 shares of the company’s stock valued at $54,207,000 after buying an additional 1,567,374 shares in the last quarter. Hedge funds and other institutional investors own 34.02% of the company’s stock.

Several brokerages have recently issued reports on DISCA. Wells Fargo & Co began coverage on shares of Discovery Communications in a report on Monday, September 23rd. They issued an “outperform” rating and a $35.00 target price for the company. ValuEngine upgraded shares of Discovery Communications from a “sell” rating to a “hold” rating in a report on Friday. Rosenblatt Securities began coverage on shares of Discovery Communications in a report on Sunday, November 3rd. They issued a “hold” rating and a $30.00 target price for the company. BidaskClub cut shares of Discovery Communications from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Finally, Imperial Capital upgraded shares of Discovery Communications from an “in-line” rating to an “outperform” rating and upped their target price for the company from $29.00 to $34.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.70.

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In other Discovery Communications news, Director Daniel E. Sanchez sold 1,059 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $28.40, for a total transaction of $30,075.60. Following the sale, the director now directly owns 16,789 shares of the company’s stock, valued at approximately $476,807.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Savalle Sims sold 3,085 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.18, for a total transaction of $93,105.30. Following the transaction, 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 company insiders.

Discovery Communications stock traded down $0.13 during trading hours on Friday, reaching $30.90. 8,144,300 shares of the stock were exchanged, compared to its average volume of 3,928,025. Discovery Communications Inc. has a 52-week low of $23.79 and a 52-week high of $34.47. The stock has a market cap of $15.03 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.40 and a beta of 1.55. The firm’s 50 day moving average is $27.40 and its 200 day moving average is $28.74. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.27 and a current ratio of 1.27.

Discovery Communications (NASDAQ:DISCA) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Discovery Communications had a net margin of 15.62% and a return on equity of 21.53%. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Discovery Communications Inc. will post 3.62 EPS 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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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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