South Street Advisors LLC Acquires Shares of 126,990 Discovery Communications Inc. (NASDAQ:DISCA)

South Street Advisors LLC acquired a new stake in Discovery Communications Inc. (NASDAQ:DISCA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 126,990 shares of the company’s stock, valued at approximately $3,899,000. Discovery Communications accounts for 1.2% of South Street Advisors LLC’s holdings, making the stock its 27th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in DISCA. Thor Advisors LLC acquired a new position in shares of Discovery Communications during the 1st quarter worth $29,000. Pennsylvania Trust Co acquired a new position in shares of Discovery Communications during the 1st quarter worth $1,085,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Discovery Communications by 96.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,920 shares of the company’s stock worth $52,000 after purchasing an additional 945 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of Discovery Communications during the 1st quarter worth $82,000. Finally, Mint Tower Capital Management B.V. acquired a new position in shares of Discovery Communications during the 1st quarter worth $80,000. Hedge funds and other institutional investors own 34.67% of the company’s stock.

In other Discovery Communications news, insider Bruce Campbell sold 10,000 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Faricy purchased 35,900 shares of Discovery Communications stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $27.91 per share, with a total value of $1,001,969.00. Following the completion of the acquisition, the chief executive officer now 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 corporate insiders.

Several research analysts have recently commented on the stock. Imperial Capital increased their price target on shares of Discovery Communications from $29.00 to $30.00 and gave the stock an “in-line” rating in a research note on Monday, June 24th. BidaskClub lowered shares of Discovery Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. ValuEngine lowered shares of Discovery Communications from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Wolfe Research lowered shares of Discovery Communications from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Discovery Communications has a consensus rating of “Buy” and a consensus target price of $33.89.

Shares of NASDAQ DISCA traded down $0.83 during trading hours on Friday, hitting $29.11. 298,680 shares of the stock were exchanged, compared to its average volume of 3,435,078. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The business’s 50 day moving average is $30.92. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.41 and a beta of 1.47. Discovery Communications Inc. has a one year low of $23.79 and a one year high of $34.89.

Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the firm earned $0.53 EPS. Discovery Communications’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts anticipate that Discovery Communications Inc. will post 3.93 EPS for the current year.

Discovery Communications Company 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.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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