Zacks Investment Research upgraded shares of Discovery Communications (NASDAQ:DISCK) from a strong sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Discovery Communications is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in 170 countries. It empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. “
A number of other equities analysts have also commented on the stock. BidaskClub lowered shares of Discovery Communications from a buy rating to a hold rating in a research report on Saturday. ValuEngine lowered shares of Discovery Communications from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Morgan Stanley reduced their target price on shares of Discovery Communications from $31.00 to $22.00 and set an equal weight rating on the stock in a research report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating, Discovery Communications has a consensus rating of Hold and an average target price of $25.50.
Large investors have recently modified their holdings of the company. State of Wisconsin Investment Board bought a new position in shares of Discovery Communications during the third quarter valued at approximately $136,312,000. Prudential Financial Inc. boosted its stake in shares of Discovery Communications by 207.2% during the third quarter. Prudential Financial Inc. now owns 2,588,195 shares of the company’s stock valued at $52,437,000 after purchasing an additional 1,745,767 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Discovery Communications by 25.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,362,821 shares of the company’s stock valued at $149,171,000 after purchasing an additional 1,484,500 shares in the last quarter. Private Management Group Inc. bought a new position in shares of Discovery Communications during the third quarter valued at approximately $27,985,000. Finally, Mackenzie Financial Corp bought a new position in shares of Discovery Communications during the third quarter valued at approximately $27,157,000. 48.23% of the stock is currently owned by institutional investors and hedge funds.
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Discovery Communications Company 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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