Massachusetts Financial Services Co. MA Invests $22.41 Million in Discovery, Inc. (NASDAQ:DISCA)

Massachusetts Financial Services Co. MA purchased a new position in Discovery, Inc. (NASDAQ:DISCA) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 515,654 shares of the company’s stock, valued at approximately $22,410,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of Discovery in the 1st quarter worth approximately $1,274,000. M&R Capital Management Inc. grew its holdings in shares of Discovery by 6.8% in the 1st quarter. M&R Capital Management Inc. now owns 153,954 shares of the company’s stock worth $6,690,000 after acquiring an additional 9,808 shares during the period. CWM Advisors LLC grew its holdings in shares of Discovery by 37.3% in the 1st quarter. CWM Advisors LLC now owns 36,504 shares of the company’s stock worth $1,586,000 after acquiring an additional 9,915 shares during the period. Patton Fund Management Inc. acquired a new stake in shares of Discovery in the 1st quarter worth approximately $1,297,000. Finally, Exane Derivatives acquired a new stake in Discovery during the 1st quarter valued at $109,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

Shares of DISCA opened at $30.32 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.20. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.42 and a beta of 1.38. The business has a fifty day moving average price of $33.64. Discovery, Inc. has a twelve month low of $19.07 and a twelve month high of $78.14.

Discovery (NASDAQ:DISCA) last issued its earnings results on Wednesday, April 28th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.40). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Discovery had a return on equity of 14.44% and a net margin of 9.11%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.87 earnings per share. On average, equities research analysts forecast that Discovery, Inc. will post 1.95 EPS for the current year.

In related news, Director John C. Malone sold 6,768 shares of the stock in a transaction on Monday, June 21st. The stock was sold at an average price of $29.15, for a total value of $197,287.20. Following the transaction, the director now directly owns 244,605 shares of the company’s stock, valued at approximately $7,130,235.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 131,627 shares of company stock worth $3,903,885 over the last ninety days. Corporate insiders own 5.57% of the company’s stock.

A number of equities research analysts have commented on the company. Moffett Nathanson cut Discovery from a “buy” rating to a “neutral” rating and lowered their target price for the company from $51.00 to $37.00 in a report on Monday, May 24th. TheStreet cut Discovery from a “b” rating to a “c+” rating in a report on Wednesday, April 28th. UBS Group upgraded Discovery from a “sell” rating to a “neutral” rating and lowered their target price for the company from $46.00 to $38.00 in a report on Thursday, April 29th. Barclays upgraded Discovery from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $34.00 to $35.00 in a report on Friday, May 7th. Finally, Wells Fargo & Company upgraded Discovery from an “equal weight” rating to an “overweight” rating and set a $59.00 target price on the stock in a report on Wednesday, April 28th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $39.80.

About Discovery

Discovery, Inc, a media company, provides content across various distribution platforms in approximately 50 languages worldwide. It operates in two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, HGTV, Food Network, TLC, Animal Planet, Investigation Discovery, Travel Channel, Science, MotorTrend, Discovery en Español, Discovery Familia, Eurosport, TVN, Discovery Kids, Discovery Family, American Heroes Channel, Destination America, Discovery Life, DIY Network, Cooking Channel, Great American Country, ID, the Oprah Winfrey Network, Eurosport, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

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Institutional Ownership by Quarter for Discovery (NASDAQ:DISCA)

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