Cohen Capital Management Exits Position in Discovery Communications (DISCA)

Discovery Communications (DISCA) : Cohen Capital Management has sold out all of its stake in Discovery Communications during the most recent quarter, according to the disclosure filed by the company on Apr 20, 2016 with the SEC. The investment management company has sold out 185,656 shares of Discovery Communications which is valued at $5,346,893.

Discovery Communications opened for trading at $28.34 and hit $28.95 on the upside on Friday, eventually ending the session at $28.8, with a gain of 1.52% or 0.43 points. The heightened volatility saw the trading volume jump to 25,68,312 shares. Company has a market cap of $11,835 M.

Other Hedge Funds, Including , Cornerstone Advisors added DISCA to its portfolio by purchasing 27 company shares during the most recent quarter which is valued at $778.Manning Napier Advisors reduced its stake in DISCA by selling 4,883,406 shares or 84.08% in the most recent quarter. The Hedge Fund company now holds 924,620 shares of DISCA which is valued at $26,203,731. Discovery Communications makes up approx 0.16% of Manning Napier Advisors’s portfolio.R.h. Dinel Investment Counsel reduced its stake in DISCA by selling 10,000 shares or 49.26% in the most recent quarter. The Hedge Fund company now holds 10,300 shares of DISCA which is valued at $291,902. Discovery Communications makes up approx 0.34% of R.h. Dinel Investment Counsel’s portfolio.Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in DISCA in the latest quarter, The investment management firm added 5,177 additional shares and now holds a total of 33,212 shares of Discovery Communications which is valued at $941,228. Discovery Communications makes up approx 0.02% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio. Triangle Securities Wealth Management sold out all of its stake in DISCA during the most recent quarter. The investment firm sold 13,972 shares of DISCA which is valued $396,106.

On the company’s financial health, Discovery Communications reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $0.45. The company had revenue of $1646.00 million for the quarter, compared to analysts expectations of $1669.77 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Discovery Communications. Discovery Communications was Downgraded by Macquarie to ” Underperform” on Apr 26, 2016. Shares were Downgraded by Topeka Capital Markets on Apr 25, 2016 to ” Hold” and Lowered the Price Target to $ 31 from a previous price target of $37 .RBC Capital Mkts Initiated Discovery Communications on Apr 8, 2016 to “Outperform”, Price Target of the shares are set at $35.

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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