SSgA Funds Management, Inc. recently announced the acquisition of new stake in Discovery Inc. (NASDAQ:DISCK). The institutional investor has increased its shareholding in the Communication Services company by 0.25% to 20.54 million shares with purchase of 50215.0 shares. This fresh investment now brings its stake to 6.04% valued currently at $389.18 million. In addition, JPMorgan Investment Management, I.. raised its holdings by 2.07 million to 14.96 million shares. And Hotchkis & Wiley Capital Manageme.. has lifted its position by 2.10% or 0.26 million shares – to 12.57 million shares.
With over 3.13 million Discovery Inc. (DISCK) shares trading Tuesday and a closing price of $19.36 on the day, the dollar volume was approximately $60.52 million. The shares have shown a negative weekly performance of -6.36% and its price on 09/01/20 lost nearly -3.03%.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for DISCK have a consensus price objective of $24.52. The analysts have set the share’s price value over the next 12 months at a high of $33.00 and a low of $17.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Discovery Inc. stock is 3.00 for the next 12 months. The average price target is 20.43% above its last price level and an upside to the estimated low will see the stock lose -13.88% over that period. But an upside of 41.33% will see the stock hit the forecast high price target while mean target price for the stock is $24.00.
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 4,457,895 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 3,165,065 shares.
The top 3 mutual fund holders in Discovery Inc. are Vanguard Total Stock Market Index, Wells Fargo Special Mid Cap Value, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 9.0 million shares of the company’s stock, all valued at over $170.49 million. The company sold 10255.0 shares recently to bring their total holdings to about 2.65% of the shares outstanding. Vanguard Mid Cap Index Fund sold 30590.0 shares to bring its total holdings to over 7.99 million shares at a value of $151.37 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.35% of the shares outstanding.
Shares of Discovery Inc. (NASDAQ: DISCK) opened at $19.84, down -$0.13 from a prior closing price of $19.97. However, the script later closed the day at $19.36, down -3.03%. The company’s stock has a 5-day price change of -6.36% and -4.23% over the past three months. DISCK shares are trading -36.49% year to date (YTD), with the 12-month market performance down to -23.88% lower. It has a 12-month low price of $15.43 and touched a high of $31.20 over the same period. Currently, 3.13 million shares have been traded, compared to an average intraday trading volume of 2.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.15%, -0.37%, and -16.37% respectively.
Institutional ownership of Discovery Inc. (NASDAQ: DISCK) shares accounts for 87.50% of the company’s. Mutual fund holders own 41.16%, while other institutional holders and individual stakeholders account for 42.16% and 13.29% respectively.
The stock’s trailing 12-month PE ratio is 11.30, while the earnings-per-share (ttm) stands at $1.71. The company has a PEG of 1.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.62% over the week and 3.57% over the month.
Analysts forecast that Discovery Inc. (DISCK) will achieve an EPS of $0.64 for the current quarter, $0.64 for the next quarter and $3.33 for 2021. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.86. Comparatively, EPS for the current quarter was $0.87 a year ago. Earnings per share for the fiscal year are expected to decrease by -22.80%, and 16.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate Discovery Inc. (DISCK) as a “Hold” at a consensus score of 3.00. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 15 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DISCK, a number of firms have released research notes about the stock. Topeka Capital Markets stated their Hold rating for the stock in a research note on April 25, 2016, with the firm’s price target at $37-$30.