Hi Line Capital Management LLC Grows Stake in Discovery Inc Series C (NASDAQ:DISCK)

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Hi Line Capital Management LLC grew its holdings in shares of Discovery Inc Series C (NASDAQ:DISCK) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 270,289 shares of the company’s stock after buying an additional 2,010 shares during the quarter. Discovery Inc Series C accounts for about 3.5% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Hi Line Capital Management LLC owned 0.05% of Discovery Inc Series C worth $7,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Discovery Inc Series C by 73.0% in the first quarter. JPMorgan Chase & Co. now owns 13,156,078 shares of the company’s stock worth $334,428,000 after purchasing an additional 5,551,544 shares in the last quarter. Wells Fargo & Company MN grew its stake in Discovery Inc Series C by 1,011.1% in the second quarter. Wells Fargo & Company MN now owns 5,561,179 shares of the company’s stock worth $158,216,000 after purchasing an additional 5,060,685 shares in the last quarter. Prudential Financial Inc. grew its stake in Discovery Inc Series C by 764.8% in the second quarter. Prudential Financial Inc. now owns 4,706,539 shares of the company’s stock worth $133,901,000 after purchasing an additional 4,162,274 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Discovery Inc Series C in the second quarter worth approximately $42,675,000. Finally, APG Asset Management N.V. grew its stake in Discovery Inc Series C by 149.1% in the second quarter. APG Asset Management N.V. now owns 1,696,300 shares of the company’s stock worth $42,378,000 after purchasing an additional 1,015,200 shares in the last quarter. 57.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:DISCK opened at $26.61 on Friday. Discovery Inc Series C has a 52-week low of $21.99 and a 52-week high of $31.55. The stock has a market cap of $14.45 billion, a P/E ratio of 8.64 and a beta of 1.46. The business’s 50 day moving average is $26.77 and its 200 day moving average is $27.14. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Discovery Inc Series C (NASDAQ:DISCK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.37). Discovery Inc Series C had a return on equity of 21.53% and a net margin of 15.62%. The firm had revenue of $2.89 billion during the quarter.

Several research analysts recently issued reports on the company. BidaskClub cut Discovery Inc Series C from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. ValuEngine raised Discovery Inc Series C from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research cut Discovery Inc Series C from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th.

Discovery Inc Series C Profile

Discovery, Inc operates as a media company worldwide. The company operates through two segments, U.S. Networks and International Networks. The company owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, MotorTrend, Food Network, HGTV, Travel Channel, TVN, DIY Network, Cooking Channel, Discovery Family Channel, American Heroes Channel, Destination America, Discovery Life, Discovery en Espanol, Discovery Familia, Great American Country, the Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

Read More: Understanding the Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Discovery Inc Series C (NASDAQ:DISCK)

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