First Republic Investment Management buys $98.3 Million stake in Discovery Communications (DISCK)

Discovery Communications (DISCK) : First Republic Investment Management scooped up 3,621,705 additional shares in Discovery Communications during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 3,635,909 shares of Discovery Communications which is valued at $98.3 Million.Discovery Communications makes up approximately 0.90% of First Republic Investment Management’s portfolio.

Other Hedge Funds, Including , Loomis Sayles Co L P added DISCK to its portfolio by purchasing 232 company shares during the most recent quarter which is valued at $6,273.Catalyst Capital Advisors boosted its stake in DISCK in the latest quarter, The investment management firm added 2,500 additional shares and now holds a total of 36,500 shares of Discovery Communications which is valued at $986,960. Discovery Communications makes up approx 0.18% of Catalyst Capital Advisors’s portfolio.Hosking Partners Llp reduced its stake in DISCK by selling 54,182 shares or 58.08% in the most recent quarter. The Hedge Fund company now holds 39,101 shares of DISCK which is valued at $1.1 Million. Discovery Communications makes up approx 0.05% of Hosking Partners Llp’s portfolio.Gabelli Funds reduced its stake in DISCK by selling 56,000 shares or 4.17% in the most recent quarter. The Hedge Fund company now holds 1,286,600 shares of DISCK which is valued at $35.6 Million. Discovery Communications makes up approx 0.22% of Gabelli Funds’s portfolio.Retirement Systems Of Alabama reduced its stake in DISCK by selling 10,670 shares or 7.98% in the most recent quarter. The Hedge Fund company now holds 123,106 shares of DISCK which is valued at $3.3 Million. Discovery Communications makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.

Discovery Communications opened for trading at $25.47 and hit $26.01 on the upside on Wednesday, eventually ending the session at $25.87, with a gain of 1.93% or 0.49 points. The heightened volatility saw the trading volume jump to 26,71,256 shares. Company has a market cap of $10,496 M.

Many Wall Street Analysts have commented on Discovery Communications. Shares were Downgraded by Topeka Capital Markets on Apr 25, 2016 to ” Hold” and Lowered the Price Target to $ 30 from a previous price target of $37 .

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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