Stone Ridge Asset Management LLC acquired a new stake in Discovery Inc (NASDAQ:DISCA) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 84,350 shares of the company’s stock, valued at approximately $1,888,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Icon Wealth Partners LLC bought a new position in shares of Discovery during the 4th quarter valued at $106,000. Delpha Capital Management LLC bought a new position in shares of Discovery during the 4th quarter valued at $149,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Discovery during the 4th quarter valued at $167,000. Flossbach Von Storch AG bought a new position in shares of Discovery during the 3rd quarter valued at $208,000. Finally, Wasatch Advisors Inc. bought a new position in shares of Discovery during the 3rd quarter valued at $244,000. 49.13% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Deutsche Bank reduced their price objective on Discovery from $26.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, November 30th. BidaskClub upgraded Discovery from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 6th. Bank of America upgraded Discovery from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, December 21st. ValuEngine lowered Discovery from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Macquarie upgraded Discovery from a “neutral” rating to an “outperform” rating and set a $26.00 price objective for the company in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.78.
Discovery (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. Discovery had a positive return on equity of 21.68% and a negative net margin of 4.90%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Discovery’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts expect that Discovery Inc will post 2.29 earnings per share for the current fiscal year.
In other news, insider Bruce Campbell sold 15,976 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $21.50, for a total transaction of $343,484.00. Following the completion of the transaction, the insider now owns 85,298 shares in the company, valued at $1,833,907. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Leavy sold 20,673 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $23.41, for a total value of $483,954.93. The disclosure for this sale can be found here. Corporate insiders own 6.81% of the company’s stock.
Discovery, Inc, formerly Discovery Communications, Inc, is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements.
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