Commonwealth Equity Services LLC Sells 19,047 Shares of Discovery, Inc. (NASDAQ:DISCA)

Commonwealth Equity Services LLC reduced its stake in Discovery, Inc. (NASDAQ:DISCA) by 36.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,798 shares of the company’s stock after selling 19,047 shares during the period. Commonwealth Equity Services LLC’s holdings in Discovery were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in DISCA. Amundi Pioneer Asset Management Inc. grew its stake in shares of Discovery by 92.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 199,431 shares of the company’s stock valued at $5,390,000 after purchasing an additional 96,008 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Discovery in the 1st quarter valued at approximately $65,000. Sei Investments Co. grew its stake in shares of Discovery by 1,087.7% in the 1st quarter. Sei Investments Co. now owns 109,530 shares of the company’s stock valued at $4,636,000 after purchasing an additional 100,308 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Discovery in the 1st quarter valued at approximately $253,000. Finally, Geode Capital Management LLC grew its stake in shares of Discovery by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 3,026,945 shares of the company’s stock valued at $131,287,000 after purchasing an additional 60,627 shares during the period. Institutional investors own 33.56% of the company’s stock.

NASDAQ:DISCA opened at $25.50 on Thursday. The stock’s fifty day moving average price is $27.21 and its two-hundred day moving average price is $31.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market cap of $12.90 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.04 and a beta of 1.36. Discovery, Inc. has a 52-week low of $19.07 and a 52-week high of $78.14.

Discovery (NASDAQ:DISCA) last released its quarterly earnings data on Tuesday, August 3rd. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.18. Discovery had a net margin of 12.24% and a return on equity of 14.23%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. On average, equities analysts predict that Discovery, Inc. will post 2.35 EPS for the current fiscal year.

Several brokerages have recently commented on DISCA. Deutsche Bank Aktiengesellschaft reduced their target price on Discovery from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, August 4th. Royal Bank of Canada reduced their target price on Discovery from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, June 24th. They noted that the move was a valuation call. Finally, UBS Group reduced their target price on Discovery from $38.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 22nd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.38.

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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