TimesSquare Capital Management LLC Purchases New Shares in Discovery, Inc. (NASDAQ:DISCA)

TimesSquare Capital Management LLC purchased a new stake in shares of Discovery, Inc. (NASDAQ:DISCA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,040 shares of the company’s stock, valued at approximately $393,000.

A number of other large investors also recently added to or reduced their stakes in DISCA. Exchange Traded Concepts LLC bought a new position in shares of Discovery during the 1st quarter worth $1,274,000. M&R Capital Management Inc. grew its position in shares of Discovery by 6.8% during the 1st quarter. M&R Capital Management Inc. now owns 153,954 shares of the company’s stock worth $6,690,000 after buying an additional 9,808 shares in the last quarter. CWM Advisors LLC boosted its position in Discovery by 37.3% during the first quarter. CWM Advisors LLC now owns 36,504 shares of the company’s stock valued at $1,586,000 after purchasing an additional 9,915 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Discovery during the first quarter valued at about $1,297,000. Finally, Exane Derivatives bought a new stake in Discovery during the first quarter valued at about $109,000. Institutional investors own 40.56% of the company’s stock.

In other Discovery news, Director Robert R. Beck sold 15,999 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $73.40, for a total transaction of $1,174,326.60. Following the sale, the director now owns 68,579 shares in the company, valued at approximately $5,033,698.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lori C. Locke sold 1,301 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $73.10, for a total value of $95,103.10. Following the sale, the chief accounting officer now owns 21,514 shares in the company, valued at approximately $1,572,673.40. The disclosure for this sale can be found here. Insiders sold a total of 341,176 shares of company stock valued at $20,123,211 over the last ninety days. 5.57% of the stock is currently owned by company insiders.

DISCA opened at $30.14 on Friday. The firm’s 50 day moving average is $35.90. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.20. The stock has a market cap of $15.23 billion, a P/E ratio of 20.50, a PEG ratio of 1.24 and a beta of 1.38. Discovery, Inc. has a 52 week low of $19.07 and a 52 week high of $78.14.

Discovery (NASDAQ:DISCA) last issued its earnings results on Wednesday, April 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.40). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.77 billion. Discovery had a return on equity of 14.44% and a net margin of 9.11%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.87 earnings per share. Analysts predict that Discovery, Inc. will post 2.36 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on DISCA. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $44.00 in a research note on Monday, May 17th. Rosenblatt Securities lifted their price target on Discovery from $23.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, February 23rd. UBS Group upgraded Discovery from a “sell” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $38.00 in a research report on Thursday, April 29th. TheStreet cut Discovery from a “b” rating to a “c+” rating in a research report on Wednesday, April 28th. Finally, Zacks Investment Research raised Discovery from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a report on Tuesday, April 27th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $39.20.

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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