Geode Capital Management LLC cut its holdings in shares of Discovery Inc (NASDAQ:DISCA) by 12.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,731,772 shares of the company’s stock after selling 249,978 shares during the quarter. Geode Capital Management LLC owned 0.46% of Discovery worth $38,677,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in DISCA. Cowen Inc. bought a new position in Discovery in the third quarter valued at approximately $5,880,000. Reinhart Partners Inc. increased its stake in Discovery by 41.4% in the fourth quarter. Reinhart Partners Inc. now owns 1,270,171 shares of the company’s stock valued at $28,426,000 after acquiring an additional 372,184 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Discovery by 25.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock valued at $40,058,000 after acquiring an additional 383,048 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Discovery by 26.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 34,087 shares of the company’s stock valued at $763,000 after acquiring an additional 7,079 shares during the last quarter. Finally, Swiss National Bank increased its stake in Discovery by 0.5% in the fourth quarter. Swiss National Bank now owns 567,288 shares of the company’s stock valued at $12,696,000 after acquiring an additional 2,900 shares during the last quarter. 48.76% of the stock is currently owned by institutional investors.
DISCA has been the topic of a number of recent analyst reports. BidaskClub raised shares of Discovery from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Bank of America raised shares of Discovery from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, December 21st. Barrington Research reaffirmed a “buy” rating and set a $30.00 target price on shares of Discovery in a research note on Tuesday, February 27th. Zacks Investment Research raised shares of Discovery from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Thursday, March 15th. Finally, Barclays raised shares of Discovery from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $18.00 to $23.00 in a research note on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $24.89.
Discovery Inc (NASDAQ:DISCA) opened at $22.95 on Tuesday. The company has a market cap of $8,864.06, a price-to-earnings ratio of 11.66, a PEG ratio of 1.02 and a beta of 1.52. The company has a debt-to-equity ratio of 3.20, a quick ratio of 5.34 and a current ratio of 5.34. Discovery Inc has a fifty-two week low of $15.99 and a fifty-two week high of $30.25.
Discovery (NASDAQ:DISCA) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.78 billion. Discovery had a negative net margin of 4.90% and a positive return on equity of 21.68%. Discovery’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. research analysts forecast that Discovery Inc will post 2.59 EPS for the current year.
In related news, General Counsel Savalle Sims sold 2,571 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $24.08, for a total value of $61,909.68. Following the transaction, the general counsel now owns 36,640 shares in the company, valued at $882,291.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bruce Campbell sold 15,976 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were 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 approximately $1,833,907. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,220 shares of company stock worth $889,349. 6.81% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: This story was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.thelincolnianonline.com/2018/03/20/geode-capital-management-llc-sells-249978-shares-of-discovery-inc-disca.html.
Discovery Company Profile
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.
Want to see what other hedge funds are holding DISCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discovery Inc (NASDAQ:DISCA).
Receive News & Ratings for Discovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discovery and related companies with MarketBeat.com's FREE daily email newsletter.