Russell Investments Group Ltd. Trims Stake in Discovery Inc Series C (NASDAQ:DISCK)

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Russell Investments Group Ltd. reduced its holdings in shares of Discovery Inc Series C (NASDAQ:DISCK) by 52.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,713 shares of the company’s stock after selling 172,621 shares during the period. Russell Investments Group Ltd.’s holdings in Discovery Inc Series C were worth $4,467,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Keybank National Association OH increased its stake in shares of Discovery Inc Series C by 14.0% in the second quarter. Keybank National Association OH now owns 13,332 shares of the company’s stock worth $379,000 after purchasing an additional 1,634 shares in the last quarter. Cleararc Capital Inc. purchased a new stake in shares of Discovery Inc Series C in the first quarter worth $222,000. Tyers Asset Management LLC increased its stake in shares of Discovery Inc Series C by 84.0% in the first quarter. Tyers Asset Management LLC now owns 212,624 shares of the company’s stock worth $5,405,000 after purchasing an additional 97,056 shares in the last quarter. Raymond James & Associates increased its stake in shares of Discovery Inc Series C by 11.4% in the first quarter. Raymond James & Associates now owns 725,388 shares of the company’s stock worth $18,439,000 after purchasing an additional 74,503 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Discovery Inc Series C by 3.7% in the first quarter. Norinchukin Bank The now owns 68,409 shares of the company’s stock worth $1,739,000 after purchasing an additional 2,416 shares in the last quarter. 57.08% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on DISCK. Zacks Investment Research cut shares of Discovery Inc Series C from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. BidaskClub cut shares of Discovery Inc Series C from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Finally, ValuEngine raised shares of Discovery Inc Series C from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 8th.

DISCK traded down $0.21 during trading on Friday, hitting $26.30. 2,521,871 shares of the company traded hands, compared to its average volume of 2,531,342. The company has a market cap of $14.25 billion, a PE ratio of 8.52 and a beta of 1.46. The stock’s 50-day simple moving average is $26.71 and its two-hundred day simple moving average is $27.14. Discovery Inc Series C has a 1 year low of $21.99 and a 1 year high of $31.55. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.32.

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

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.

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

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