That's more than Viacom, the next-biggest TV company by market value.
David Zaslav, President and CEO, Discovery Communications said: "This is an exciting new chapter for Discovery".
Teachers Advisors LLC raised its stake in shares of Discovery Communications, Inc. The number of shares now owned by investors are 368.58 mln. (NASDAQ:DISCA) in a long-rumored deal. Assetmark Inc. now owns 2,542 shares of the company's stock worth $199,000 after buying an additional 67 shares in the last quarter.
As The New York Times reports, consolidation among cable and broadband providers including Comcast, Charter, Verizon, and AT&T "has put pressure on TV companies like Discovery to grow in size as a way to gain leverage in negotiations with cable distributors". The original version of this news story can be accessed at https://transcriptdaily.com/2017/07/31/franklin-street-advisors-inc-nc-buys-1990-shares-of-discovery-communications-inc-nasdaqdisck-updated-updated.html. The firm has a 50 day moving average of $26.21 and a 200 day moving average of $27.38.
Shares of Discovery Communications, Inc. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 12.06 and a beta of 1.49.
Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Monday, July 31st. Discovery Communications had a return on equity of 23.67% and a net margin of 17.50%. After having $0.41 EPS previously, Discovery Communications Inc.'s analysts see 68.29 % EPS growth.
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DISCK has been the topic of several recent analyst reports. Finally, TheStreet lowered shares of Discovery Communications from a "b-" rating to a "c+" rating in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock.
Discovery shares lost 4.2 percent. (NASDAQ:WFM) ended its day at $41.82 with the rising stream of 0.10% and its total traded volume was 3.87 million shares less than the average volume. The sale was disclosed in a document filed with the SEC, which is available at this link.
Since the beginning of the calendar year, the stock is -2.23%.
In other news, insider Bruce Campbell sold 9,283 shares of Discovery Communications stock in a transaction on Thursday, June 15th. The disclosure for this sale can be found here. Institutional investors and hedge funds own 46.96% of the company's stock.
"While both companies have largely reality-based programming, the genres/ content are different, with Discovery's content more easily travelling globally vs. Scripps'", he said. The Firm 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. Current price level places the company's stock about -95.97% from the 52-week high and 21.86% away from the 52-week low.