CIBC Asset Management Inc Has $1.13 Million Holdings in Discovery, Inc. (NASDAQ:DISCA)

CIBC Asset Management Inc cut its holdings in Discovery, Inc. (NASDAQ:DISCA) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,963 shares of the company’s stock after selling 1,707 shares during the quarter. CIBC Asset Management Inc’s holdings in Discovery were worth $1,128,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wealthfront Advisers LLC boosted its stake in shares of Discovery by 10.6% during the first quarter. Wealthfront Advisers LLC now owns 41,397 shares of the company’s stock valued at $1,799,000 after purchasing an additional 3,968 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Discovery by 1.6% during the first quarter. TD Asset Management Inc. now owns 45,224 shares of the company’s stock valued at $1,965,000 after purchasing an additional 700 shares in the last quarter. Covington Capital Management boosted its stake in shares of Discovery by 327.8% during the first quarter. Covington Capital Management now owns 3,850 shares of the company’s stock valued at $167,000 after purchasing an additional 2,950 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Discovery by 34.9% during the first quarter. UBS Asset Management Americas Inc. now owns 1,552,533 shares of the company’s stock valued at $67,473,000 after purchasing an additional 401,581 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in shares of Discovery during the first quarter valued at about $739,000. 40.56% of the stock is currently owned by institutional investors and hedge funds.

DISCA stock opened at $31.14 on Tuesday. The stock has a fifty day simple moving average of $32.70. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.87 and a current ratio of 1.87. Discovery, Inc. has a 1-year low of $19.07 and a 1-year high of $78.14. The stock has a market capitalization of $15.74 billion, a PE ratio of 21.18, a P/E/G ratio of 1.50 and a beta of 1.36.

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

In other news, Director John C. Malone sold 124,839 shares of the company’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $29.68, for a total transaction of $3,705,221.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John C. Malone sold 6,768 shares of the company’s stock in a transaction on Monday, June 21st. The shares were 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 in the company, valued at approximately $7,130,235.75. The disclosure for this sale can be found here. Insiders have sold a total of 131,627 shares of company stock worth $3,903,885 in the last ninety days. Insiders own 5.57% of the company’s stock.

DISCA has been the subject of a number of analyst reports. TheStreet downgraded Discovery from a “b” rating to a “c+” rating in a research report on Wednesday, April 28th. Wells Fargo & Company upgraded Discovery from an “equal weight” rating to an “overweight” rating and set a $59.00 price objective for the company in a research report on Wednesday, April 28th. They noted that the move was a valuation call. Macquarie upgraded Discovery from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $40.00 in a research report on Friday, April 30th. Barclays upgraded Discovery from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $34.00 to $35.00 in a research report on Friday, May 7th. Finally, Royal Bank of Canada lowered their target price on Discovery from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, June 24th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Discovery has a consensus rating of “Hold” and a consensus price target of $40.32.

Discovery 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 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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