Discovery Communications Inc. (NASDAQ:DISCK) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,848,474 shares, a growth of 28.6% from the September 15th total of 2,214,313 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 1,937,222 shares, the days-to-cover ratio is currently 1.5 days.
Separately, Zacks Investment Research downgraded Discovery Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 26th.
Shares of Discovery Communications (NASDAQ:DISCK) opened at 24.73 on Friday. The firm has a market capitalization of $10.34 billion, a PE ratio of 13.45 and a beta of 1.44. The company’s 50-day moving average price is $25.09 and its 200-day moving average price is $25.66. Discovery Communications has a 12-month low of $22.43 and a 12-month high of $29.93.
A number of institutional investors have recently made changes to their positions in the company. Springbok Capital Management LLC acquired a new position in shares of Discovery Communications during the first quarter worth $112,000. Glenmede Trust Co. NA increased its position in shares of Discovery Communications by 100.3% in the second quarter. Glenmede Trust Co. NA now owns 5,533 shares of the company’s stock worth $130,000 after buying an additional 2,771 shares during the period. Advisor Group Inc. acquired a new position in shares of Discovery Communications during the second quarter worth $132,000. Sentry Investment Management LLC increased its position in shares of Discovery Communications by 370.4% in the first quarter. Sentry Investment Management LLC now owns 5,410 shares of the company’s stock worth $146,000 after buying an additional 4,260 shares during the period. Finally, Morgan Dempsey Capital Management LLC increased its position in shares of Discovery Communications by 76.1% in the second quarter. Morgan Dempsey Capital Management LLC now owns 6,635 shares of the company’s stock worth $158,000 after buying an additional 2,868 shares during the period. 50.61% of the stock is currently owned by hedge funds and other institutional investors.
Discovery Communications Company Profile
Discovery Communications, Inc, (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S.
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