Cumberland Partners Ltd Lowers stake in Discovery Communications (DISCA)

Discovery Communications (DISCA) : Cumberland Partners Ltd reduced its stake in Discovery Communications by 1.82% during the most recent quarter end. The investment management company now holds a total of 151,350 shares of Discovery Communications which is valued at $3,853,371 after selling 2,800 shares in Discovery Communications , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Discovery Communications makes up approximately 0.53% of Cumberland Partners Ltd’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in DISCA by selling 1,059 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 76,715 shares of DISCA which is valued at $1,953,164. Discovery Communications makes up approx 0.01% of Retirement Systems Of Alabama’s portfolio.Louisiana State Employees Retirement System reduced its stake in DISCA by selling 100 shares or 1.0% in the most recent quarter. The Hedge Fund company now holds 9,900 shares of DISCA which is valued at $252,054. Discovery Communications makes up approx 0.01% of Louisiana State Employees Retirement System’s portfolio. Mai Capital Management sold out all of its stake in DISCA during the most recent quarter. The investment firm sold 11,874 shares of DISCA which is valued $300,412.

Discovery Communications closed down -0.17 points or -0.67% at $25.09 with 44,99,884 shares getting traded on Friday. Post opening the session at $25.21, the shares hit an intraday low of $24.71 and an intraday high of $25.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Discovery Communications reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.43. The company had revenue of $1561.00 million for the quarter, compared to analysts expectations of $1561.24 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.

Many Wall Street Analysts have commented on Discovery Communications. Shares were Reiterated by MKM Partners on Jul 18, 2016 to “Neutral” and Lowered the Price Target to $ 27 from a previous price target of $28 .Shares were Downgraded by UBS on Jul 15, 2016 to ” Sell” and Lowered the Price Target to $ 24 from a previous price target of $30 .Shares were Downgraded by Bernstein on Jun 7, 2016 to ” Underperform” and Lowered the Price Target to $ 23 from a previous price target of $29 .

Discovery Communications Inc. (Discovery) is a media company. The Company provides content across multiple distribution platforms including pay-TV free-to-air and broadcast television Websites digital distribution arrangements and content licensing agreements. Discovery operates in three segments: U.S. Networks consisting of domestic television networks and Websites; International Networks consisting of international television networks and Websites and Education and Other. The Company’s U.S. Networks segment consists of national television networks. The U.S. Networks segment owns and operates 10 national television networks. The Company’s International Networks segment consists of national and pan-regional television networks. The Company’s Education and Other segment consists of curriculum-based product and service offerings and production studios. The Company’s subsidiaries include Discovery Holding Company (DHC) and Discovery Communications Holding LLC (DCH).

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