Discovery Inc (DISCA) Shares Bought by OppenheimerFunds Inc.
OppenheimerFunds Inc. lifted its position in Discovery Inc (NASDAQ:DISCA) by 15.8% in the 4th quarter, HoldingsChannel reports. The fund owned 24,658 shares of the company’s stock after buying an additional 3,370 shares during the period. OppenheimerFunds Inc.’s holdings in Discovery were worth $552,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of DISCA. Hotchkis & Wiley Capital Management LLC increased its stake in Discovery by 0.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 18,729,826 shares of the company’s stock valued at $398,758,000 after buying an additional 123,603 shares during the period. Wells Fargo & Company MN increased its stake in Discovery by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,030,018 shares of the company’s stock valued at $45,433,000 after buying an additional 56,827 shares during the period. Dimensional Fund Advisors LP increased its stake in Discovery by 25.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,881,497 shares of the company’s stock valued at $40,058,000 after buying an additional 383,048 shares during the period. Reinhart Partners Inc. increased its stake in Discovery by 41.4% in the 4th quarter. Reinhart Partners Inc. now owns 1,270,171 shares of the company’s stock valued at $28,426,000 after buying an additional 372,184 shares during the period. Finally, First Trust Advisors LP increased its stake in Discovery by 15.6% in the 4th quarter. First Trust Advisors LP now owns 1,128,058 shares of the company’s stock valued at $25,246,000 after buying an additional 151,971 shares during the period. Institutional investors and hedge funds own 48.76% of the company’s stock.
In related news, General Counsel Savalle Sims sold 2,571 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $24.08, for a total value of $61,909.68. Following the transaction, the general counsel now directly owns 36,640 shares in the company, valued at approximately $882,291.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Leavy sold 20,673 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $23.41, for a total transaction of $483,954.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,482 shares of company stock worth $913,006. 6.81% of the stock is currently owned by company insiders.
Discovery (NASDAQ:DISCA) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.08. Discovery had a negative net margin of 4.90% and a positive return on equity of 21.68%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Discovery’s quarterly revenue was up 11.5% on a year-over-year basis. research analysts forecast that Discovery Inc will post 2.59 earnings per share for the current year.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Discovery from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, March 15th. BidaskClub upgraded shares of Discovery from a “hold” rating to a “buy” rating in a research note on Tuesday, March 6th. ValuEngine upgraded shares of Discovery from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Barclays upgraded shares of Discovery from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $18.00 to $23.00 in a research note on Monday, March 12th. Finally, Wells Fargo reiterated a “market perform” rating and issued a $25.00 price objective (up previously from $18.00) on shares of Discovery in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $24.89.
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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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