Pinnacle Associates Ltd Lowers stake in Discovery Communications (DISCK)

Discovery Communications (DISCK) : Pinnacle Associates Ltd reduced its stake in Discovery Communications by 1.06% during the most recent quarter end. The investment management company now holds a total of 2,900,155 shares of Discovery Communications which is valued at $73,460,926 after selling 31,115 shares in Discovery Communications , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Discovery Communications makes up approximately 1.49% of Pinnacle Associates Ltd’s portfolio.

Other Hedge Funds, Including , Landscape Capital Management L.l.c. boosted its stake in DISCK in the latest quarter, The investment management firm added 2,733 additional shares and now holds a total of 30,029 shares of Discovery Communications which is valued at $760,635. Discovery Communications makes up approx 0.10% of Landscape Capital Management L.l.c.’s portfolio.Teachers Advisors Inc reduced its stake in DISCK by selling 17,842 shares or 3.8% in the most recent quarter. The Hedge Fund company now holds 451,270 shares of DISCK which is valued at $11,430,669. Discovery Communications makes up approx 0.02% of Teachers Advisors Inc’s portfolio.Oppenheimerfunds boosted its stake in DISCK in the latest quarter, The investment management firm added 1,385 additional shares and now holds a total of 11,674 shares of Discovery Communications which is valued at $295,702.Olstein Capital Management boosted its stake in DISCK in the latest quarter, The investment management firm added 31,000 additional shares and now holds a total of 338,000 shares of Discovery Communications which is valued at $8,487,180. Discovery Communications makes up approx 1.08% of Olstein Capital Management’s portfolio.Bnp Paribas Investment Partners S.a. boosted its stake in DISCK in the latest quarter, The investment management firm added 17,446 additional shares and now holds a total of 108,164 shares of Discovery Communications which is valued at $2,692,202. Discovery Communications makes up approx 0.02% of Bnp Paribas Investment Partners S.a.’s portfolio.

Discovery Communications opened for trading at $24.88 and hit $25 on the upside on Thursday, eventually ending the session at $24.95, with a gain of 0.52% or 0.13 points. The heightened volatility saw the trading volume jump to 10,12,090 shares. Company has a market cap of $9,879 M.

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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