Short Interest in Discovery Communications Inc. (NASDAQ:DISCA) Increases By 25.3%

Discovery Communications Inc. (NASDAQ:DISCA) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 28,527,100 shares, a growth of 25.3% from the May 30th total of 22,759,400 shares. Based on an average daily trading volume, of 3,950,000 shares, the short-interest ratio is currently 7.2 days. Currently, 18.8% of the company’s shares are sold short.

In other news, insider Bruce Campbell sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $28.89, for a total value of $288,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Faricy purchased 35,900 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $27.91 per share, with a total value of $1,001,969.00. Following the acquisition, the chief executive officer now directly owns 182,367 shares in the company, valued at $5,089,862.97. The disclosure for this purchase can be found here. 4.43% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Thor Advisors LLC acquired a new position in shares of Discovery Communications during the 1st quarter worth approximately $29,000. Pennsylvania Trust Co bought a new position in Discovery Communications in the 1st quarter valued at approximately $1,085,000. Northwestern Mutual Wealth Management Co. lifted its stake in Discovery Communications by 96.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock valued at $52,000 after purchasing an additional 945 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new position in Discovery Communications in the 1st quarter valued at approximately $82,000. Finally, Mint Tower Capital Management B.V. bought a new position in Discovery Communications in the 1st quarter valued at approximately $80,000. Institutional investors and hedge funds own 34.42% of the company’s stock.

DISCA traded up $0.79 on Friday, reaching $32.41. The company had a trading volume of 4,959,299 shares, compared to its average volume of 3,942,717. Discovery Communications has a fifty-two week low of $23.79 and a fifty-two week high of $34.89. The firm has a market cap of $16.60 billion, a PE ratio of 15.34, a P/E/G ratio of 0.42 and a beta of 1.47. The firm’s fifty day simple moving average is $29.36. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.16 and a current ratio of 1.16.

Discovery Communications (NASDAQ:DISCA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. Discovery Communications had a net margin of 9.00% and a return on equity of 20.10%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same quarter in the prior year, the business earned $0.53 EPS. Discovery Communications’s quarterly revenue was up 17.3% on a year-over-year basis. Research analysts forecast that Discovery Communications will post 3.93 earnings per share for the current fiscal year.

DISCA has been the topic of several research reports. Imperial Capital boosted their price objective on shares of Discovery Communications from $29.00 to $30.00 and gave the company an “in-line” rating in a research report on Monday, June 24th. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Finally, Wolfe Research started coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $33.89.

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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