Douglas Lane & Associates LLC Trims Stake in Discovery, Inc. (NASDAQ:DISCK)


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Douglas Lane & Associates LLC decreased its position in shares of Discovery, Inc. (NASDAQ:DISCK) by 46.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,368,465 shares of the company’s stock after selling 1,183,539 shares during the period. Douglas Lane & Associates LLC owned 0.28% of Discovery worth $35,840,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DISCK. JPMorgan Chase & Co. grew its stake in shares of Discovery by 7.2% during the third quarter. JPMorgan Chase & Co. now owns 18,718,504 shares of the company’s stock valued at $364,449,000 after acquiring an additional 1,250,313 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Discovery by 33.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,069,552 shares of the company’s stock valued at $40,564,000 after buying an additional 521,252 shares during the last quarter. DLD Asset Management LP boosted its stake in Discovery by 114.4% in the third quarter. DLD Asset Management LP now owns 861,988 shares of the company’s stock valued at $16,895,000 after acquiring an additional 459,929 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Discovery during the third quarter valued at approximately $7,227,000. Finally, Sei Investments Co. grew its stake in Discovery by 1,150.3% during the 3rd quarter. Sei Investments Co. now owns 314,917 shares of the company’s stock worth $6,050,000 after buying an additional 289,729 shares during the last quarter. Hedge funds and other institutional investors own 51.98% of the company’s stock.

DISCK has been the topic of several recent analyst reports. TheStreet raised Discovery from a “c” rating to a “b-” rating in a research note on Thursday, November 5th. Morgan Stanley raised their price objective on shares of Discovery from $22.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 1st.

Shares of Discovery stock traded up $0.23 during trading on Thursday, hitting $31.98. 100,404 shares of the stock traded hands, compared to its average volume of 4,531,131. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market cap of $15.70 billion, a P/E ratio of 15.41 and a beta of 1.53. Discovery, Inc. has a twelve month low of $15.43 and a twelve month high of $31.84. The company has a fifty day moving average price of $26.00 and a two-hundred day moving average price of $21.32.

Discovery (NASDAQ:DISCK) last released its earnings results on Thursday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. Discovery had a return on equity of 20.76% and a net margin of 13.36%. The firm had revenue of $2.56 billion for the quarter.

Discovery Company Profile

Discovery, Inc operates as a media company in the United States and internationally. The company operates in two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, ID, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Institutional Ownership by Quarter for Discovery (NASDAQ:DISCK)

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