First Mercantile Trust Co Lowers stake in Discovery Communications (DISCA)

Discovery Communications (DISCA) : First Mercantile Trust Co reduced its stake in Discovery Communications by 62.85% during the most recent quarter end. The investment management company now holds a total of 17,164 shares of Discovery Communications which is valued at $466,346 after selling 29,044 shares in Discovery Communications , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Discovery Communications makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings reduced its stake in DISCA by selling 2,634 shares or 2.03% in the most recent quarter. The Hedge Fund company now holds 126,870 shares of DISCA which is valued at $3,513,030. Discovery Communications makes up approx 0.02% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in DISCA in the latest quarter, The investment management firm added 28,686 additional shares and now holds a total of 74,348 shares of Discovery Communications which is valued at $2,058,696. Discovery Communications makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank reduced its stake in DISCA by selling 14 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 1,274 shares of DISCA which is valued at $35,277. Discovery Communications makes up approx 0.01% of Washington Trust Bank’s portfolio.

Discovery Communications closed down -0.67 points or -2.41% at $27.17 with 35,78,695 shares getting traded on Friday. Post opening the session at $27.87, the shares hit an intraday low of $27.13 and an intraday high of $27.87 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 $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.58. The company had revenue of $1708.00 million for the quarter, compared to analysts expectations of $1709.64 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Discovery Communications. Discovery Communications was Downgraded by MoffettNathanson to ” Sell” on Sep 27, 2016. Discovery Communications was Upgraded by Macquarie to ” Neutral” on Aug 3, 2016. Company shares were Reiterated by MKM Partners on Aug 3, 2016 to “Neutral”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .

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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