Boston Private Wealth LLC Reduces Position in Discovery, Inc. (NASDAQ:DISCA)

Boston Private Wealth LLC decreased its holdings in Discovery, Inc. (NASDAQ:DISCA) by 52.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,113 shares of the company’s stock after selling 9,932 shares during the period. Boston Private Wealth LLC’s holdings in Discovery were worth $232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Discovery by 15.2% in the second quarter. BlackRock Inc. now owns 13,875,931 shares of the company’s stock valued at $425,714,000 after purchasing an additional 1,832,323 shares in the last quarter. Brahman Capital Corp. bought a new stake in shares of Discovery during the second quarter valued at about $53,026,000. Squarepoint Ops LLC lifted its holdings in shares of Discovery by 10,736.8% in the second quarter. Squarepoint Ops LLC now owns 1,108,388 shares of the company’s stock worth $34,005,000 after buying an additional 1,098,160 shares in the last quarter. Invesco Ltd. boosted its position in shares of Discovery by 29.2% in the second quarter. Invesco Ltd. now owns 4,856,954 shares of the company’s stock valued at $149,012,000 after acquiring an additional 1,097,531 shares during the period. Finally, Tudor Investment Corp Et Al purchased a new position in Discovery during the second quarter valued at approximately $31,674,000. 33.61% of the stock is currently owned by institutional investors.

DISCA opened at $31.18 on Friday. Discovery, Inc. has a 12 month low of $21.66 and a 12 month high of $78.14. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $25.40 and its 200-day moving average price is $26.69. The company has a market cap of $15.77 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.88 and a beta of 1.31.

Discovery (NASDAQ:DISCA) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.16). Discovery had a return on equity of 11.62% and a net margin of 10.42%. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm earned $0.81 earnings per share. Discovery’s revenue for the quarter was up 23.0% on a year-over-year basis. Equities research analysts forecast that Discovery, Inc. will post 2.78 earnings per share for the current fiscal year.

In other Discovery news, Director John C. Malone sold 320,000 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. 5.57% of the stock is owned by insiders.

Several research analysts have commented on DISCA shares. Barrington Research reissued an “outperform” rating on shares of Discovery in a report on Monday, November 1st. Sanford C. Bernstein raised Discovery from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $28.00 to $38.44 in a research note on Monday, November 1st. Barclays decreased their target price on Discovery from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, October 18th. Bank of America upgraded Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $45.00 in a research report on Friday, January 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Discovery in a research report on Sunday, November 7th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.10.

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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