Discovery (NASDAQ:DISCB) Shares Gap Down to $46.75

Discovery, Inc. (NASDAQ:DISCB)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $46.75, but opened at $43.23. Discovery shares last traded at $43.23, with a volume of 184 shares traded.

Separately, TheStreet upgraded shares of Discovery from a “c+” rating to a “b” rating in a report on Tuesday, August 3rd.

The stock’s 50-day moving average price is $47.32 and its 200 day moving average price is $62.57. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 20.78 and a beta of 1.03. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.12.

Discovery (NASDAQ:DISCB) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter. Discovery had a net margin of 12.24% and a return on equity of 14.23%. The firm had revenue of $3.06 billion during the quarter.

A hedge fund recently raised its stake in Discovery stock. Kessler Investment Group LLC raised its position in shares of Discovery, Inc. (NASDAQ:DISCB) by 58.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,099 shares of the company’s stock after buying an additional 10,312 shares during the period. Discovery comprises 1.4% of Kessler Investment Group LLC’s portfolio, making the stock its 22nd biggest position. Kessler Investment Group LLC’s holdings in Discovery were worth $1,794,000 at the end of the most recent reporting period. 0.01% of the stock is owned by hedge funds and other institutional investors.

About Discovery (NASDAQ:DISCB)

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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