Stone Ridge Asset Management LLC Acquires Shares of 84,350 Discovery Inc (DISCA)
Stone Ridge Asset Management LLC acquired a new stake in shares of Discovery Inc (NASDAQ:DISCA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 84,350 shares of the company’s stock, valued at approximately $1,888,000.
Other hedge funds have also modified their holdings of the company. Icon Wealth Partners LLC purchased a new position in Discovery during the fourth quarter valued at approximately $106,000. Delpha Capital Management LLC purchased a new position in Discovery during the fourth quarter valued at approximately $149,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Discovery during the fourth quarter valued at approximately $167,000. Flossbach Von Storch AG purchased a new position in Discovery during the third quarter valued at approximately $208,000. Finally, Wasatch Advisors Inc. purchased a new position in Discovery during the third quarter valued at approximately $244,000. 49.13% of the stock is currently owned by institutional investors.
DISCA has been the topic of several research reports. Macquarie raised shares of Discovery from a “neutral” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Tuesday, January 2nd. Bank of America raised shares of Discovery from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, December 21st. Deutsche Bank cut their price objective on shares of Discovery from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, November 30th. Zacks Investment Research raised shares of Discovery from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, BidaskClub raised shares of 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, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.78.
Discovery Inc (NASDAQ DISCA) opened at $24.25 on Wednesday. The stock has a market cap of $9,326.17, a price-to-earnings ratio of -40.42, a P/E/G ratio of 1.21 and a beta of 1.52. Discovery Inc has a 1 year low of $15.99 and a 1 year high of $30.25. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 3.20.
Discovery (NASDAQ:DISCA) last posted its earnings results on Tuesday, February 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.78 billion. Discovery had a negative net margin of 4.90% and a positive return on equity of 21.68%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. equities analysts anticipate that Discovery Inc will post 2.29 EPS for the current fiscal year.
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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