Ledyard National Bank Reduces Position in Discovery, Inc. (NASDAQ:DISCK)
Ledyard National Bank lowered its holdings in shares of Discovery, Inc. (NASDAQ:DISCK) by 93.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,952 shares of the company’s stock after selling 106,136 shares during the period. Ledyard National Bank’s holdings in Discovery were worth $293,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Veriti Management LLC purchased a new stake in shares of Discovery during the fourth quarter worth about $30,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Discovery by 761.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,163 shares of the company’s stock valued at $30,000 after acquiring an additional 1,028 shares during the period. Private Capital Group LLC boosted its holdings in shares of Discovery by 74.2% during the first quarter. Private Capital Group LLC now owns 850 shares of the company’s stock valued at $31,000 after acquiring an additional 362 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Discovery by 100.1% during the fourth quarter. Bessemer Group Inc. now owns 1,415 shares of the company’s stock valued at $37,000 after acquiring an additional 708 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in shares of Discovery by 76.7% during the first quarter. FNY Investment Advisers LLC now owns 1,060 shares of the company’s stock valued at $39,000 after acquiring an additional 460 shares during the period. Institutional investors own 54.01% of the company’s stock.
Several equities research analysts recently weighed in on DISCK shares. Zacks Investment Research downgraded shares of Discovery from a “hold” rating to a “sell” rating in a report on Wednesday, April 28th. TheStreet cut Discovery from a “b” rating to a “c+” rating in a research report on Wednesday, April 28th. Finally, Morgan Stanley cut their target price on Discovery from $43.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday.
Discovery stock opened at $31.38 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a fifty day moving average price of $40.86 and a two-hundred day moving average price of $32.99. Discovery, Inc. has a 52-week low of $16.80 and a 52-week high of $66.70. The firm has a market capitalization of $15.29 billion, a P/E ratio of 15.23 and a beta of 1.52.
Discovery (NASDAQ:DISCK) last announced its earnings results on Sunday, February 21st. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. Discovery had a return on equity of 20.76% and a net margin of 13.36%. The company had revenue of $2.89 billion during the quarter. During the same quarter last year, the business posted $0.98 earnings per share.
Discovery Company Profile
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 EspaÃ±ol, 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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