Municipal Employees Retirement System of Michigan boosted its position in shares of Discovery Inc (NASDAQ:DISCA) by 87.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,000 shares of the company’s stock after acquiring an additional 15,390 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Discovery were worth $738,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC grew its holdings in Discovery by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock valued at $398,758,000 after purchasing an additional 123,603 shares during the period. Clearbridge Investments LLC grew its holdings in Discovery by 4.0% during the fourth quarter. Clearbridge Investments LLC now owns 18,325,805 shares of the company’s stock valued at $410,132,000 after purchasing an additional 709,288 shares during the period. Wells Fargo & Company MN grew its holdings in Discovery by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,030,018 shares of the company’s stock valued at $45,433,000 after purchasing an additional 56,827 shares during the period. Dimensional Fund Advisors LP grew its holdings in Discovery by 25.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock valued at $40,058,000 after purchasing an additional 383,048 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in Discovery during the fourth quarter valued at about $29,029,000. Institutional investors own 48.76% of the company’s stock.
In related news, insider David Leavy sold 20,673 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $23.41, for a total transaction of $483,954.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Savalle Sims sold 2,571 shares of the stock in a transaction that occurred 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 directly owns 36,640 shares of the company’s stock, valued at $882,291.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,482 shares of company stock valued at $913,006. 6.81% of the stock is owned by corporate insiders.
Discovery (NASDAQ:DISCA) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. equities analysts anticipate that Discovery Inc will post 2.64 EPS for the current year.
Several analysts have issued reports on DISCA shares. Macquarie raised Discovery from a “neutral” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Tuesday, January 2nd. Bank of America raised Discovery from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Thursday, December 21st. Deutsche Bank cut their price target on Discovery from $26.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, November 30th. Zacks Investment Research raised Discovery from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, BidaskClub raised Discovery from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.89.
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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