Fort L.P. reduced its holdings in shares of Discovery, Inc. (NASDAQ:DISCA) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,392 shares of the company’s stock after selling 13,350 shares during the period. Discovery comprises approximately 1.0% of Fort L.P.’s portfolio, making the stock its 26th biggest holding. Fort L.P.’s holdings in Discovery were worth $3,994,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of DISCA. Icon Wealth Partners LLC bought a new position in shares of Discovery in the fourth quarter worth approximately $106,000. Delpha Capital Management LLC bought a new position in shares of Discovery in the fourth quarter worth approximately $149,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Discovery in the fourth quarter worth approximately $167,000. First Mercantile Trust Co. grew its holdings in shares of Discovery by 33.5% in the first quarter. First Mercantile Trust Co. now owns 10,600 shares of the company’s stock worth $227,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of Discovery in the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 51.88% of the company’s stock.
Shares of Discovery stock opened at $22.57 on Monday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 2.00. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.55 and a beta of 1.52. Discovery, Inc. has a 12 month low of $15.99 and a 12 month high of $27.92.
Discovery (NASDAQ:DISCA) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.45 by $0.08. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.24 billion. Discovery had a positive return on equity of 19.34% and a negative net margin of 7.40%. The company’s revenue for the quarter was up 43.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. sell-side analysts anticipate that Discovery, Inc. will post 2.77 EPS for the current year.
DISCA has been the topic of several recent analyst reports. Barrington Research restated a “buy” rating and issued a $30.00 target price on shares of Discovery in a report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Discovery from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. JPMorgan Chase raised Discovery from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $26.77 to $29.00 in a research note on Thursday, May 3rd. ValuEngine lowered Discovery from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Finally, BidaskClub raised Discovery from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Discovery presently has a consensus rating of “Hold” and a consensus target price of $25.81.
In related news, CFO Gunnar Wiedenfels purchased 10,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was purchased at an average price of $21.29 per share, with a total value of $212,900.00. Following the transaction, the chief financial officer now directly owns 60,000 shares in the company, valued at $1,277,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J David Wargo purchased 50,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was bought at an average cost of $21.37 per share, with a total value of $1,068,500.00. Following the transaction, the director now owns 317,591 shares in the company, valued at $6,786,919.67. The disclosure for this purchase can be found here. Insiders have sold 39,482 shares of company stock valued at $913,006 in the last three months. Insiders own 6.73% of the company’s stock.
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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