Lord Abbett & CO. LLC Reduces Stock Position in Discovery, Inc. (NASDAQ:DISCA)

Lord Abbett & CO. LLC reduced its position in shares of Discovery, Inc. (NASDAQ:DISCA) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 628,190 shares of the company’s stock after selling 11,460 shares during the period. Lord Abbett & CO. LLC owned 0.12% of Discovery worth $15,943,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Discovery by 5.6% in the second quarter. Vanguard Group Inc. now owns 17,799,455 shares of the company’s stock worth $546,086,000 after buying an additional 947,453 shares during the period. BlackRock Inc. lifted its holdings in Discovery by 15.2% in the second quarter. BlackRock Inc. now owns 13,875,931 shares of the company’s stock worth $425,714,000 after buying an additional 1,832,323 shares during the period. State Street Corp lifted its holdings in Discovery by 3.8% in the second quarter. State Street Corp now owns 7,768,918 shares of the company’s stock worth $238,350,000 after buying an additional 282,200 shares during the period. Invesco Ltd. lifted its holdings in Discovery by 29.2% in the second quarter. Invesco Ltd. now owns 4,856,954 shares of the company’s stock worth $149,012,000 after buying an additional 1,097,531 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Discovery by 9.4% in the second quarter. Geode Capital Management LLC now owns 3,310,388 shares of the company’s stock worth $101,351,000 after buying an additional 283,443 shares during the period. Institutional investors own 33.61% of the company’s stock.

Several research firms have recently issued reports on DISCA. Barclays lowered their target price on shares of Discovery from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, October 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Discovery in a report on Sunday, November 7th. Sanford C. Bernstein upgraded shares of Discovery from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $28.00 to $38.44 in a report on Monday, November 1st. UBS Group lowered their target price on shares of Discovery from $38.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, September 22nd. Finally, Macquarie raised shares of Discovery from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $33.00 to $40.00 in a research report on Monday, November 8th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $43.10.

In other news, Director John C. Malone sold 320,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 30th. The shares were sold at an average price of $22.88, for a total value of $7,321,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.57% of the stock is owned by corporate insiders.

Discovery stock opened at $31.18 on Friday. The company has a market cap of $15.77 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31. Discovery, Inc. has a twelve month low of $21.66 and a twelve month high of $78.14. The company’s 50-day moving average price is $25.40 and its 200-day moving average price is $26.69. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.11.

Discovery (NASDAQ:DISCA) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.16). The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.14 billion. Discovery had a net margin of 10.42% and a return on equity of 11.62%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share. As a group, sell-side analysts expect that Discovery, Inc. will post 2.78 earnings per share for the current fiscal year.

Discovery Company Profile

Discovery, Inc is a media company, which engages in the provision of content across distribution platforms and digital distribution arrangements. It operates through the following segments: U.S. Networks and International Networks. The U.S. Networks segment owns and operates national television networks such as Discovery Channel, Animal Planet, and Investigation Discovery and Science.

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Institutional Ownership by Quarter for Discovery (NASDAQ:DISCA)

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