Verizon Communications (VZ) Holder Fifth Third Bancorp Has Lowered Its Position as Valuation Declined; Discovery (DISCA) Position Has Upped by Cubic Asset Management Llc

June 24, 2018 - By Ellis Scott

Discovery, Inc. (NASDAQ:DISCA) Logo

Fifth Third Bancorp decreased its stake in Verizon Communications Inc (VZ) by 1.88% based on its latest 2018Q1 regulatory filing with the SEC. Fifth Third Bancorp sold 20,957 shares as the company’s stock declined 1.16% with the market. The institutional investor held 1.10 million shares of the telecommunications equipment company at the end of 2018Q1, valued at $52.37M, down from 1.12M at the end of the previous reported quarter. Fifth Third Bancorp who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $205.60B market cap company. The stock increased 2.32% or $1.13 during the last trading session, reaching $49.76. About 40.98M shares traded or 160.61% up from the average. Verizon Communications Inc. (NYSE:VZ) has risen 7.08% since June 24, 2017 and is uptrending. It has underperformed by 5.49% the S&P500. Some Historical VZ News: 24/04/2018 – VERIZON 1Q ADJ EBITDA $11.78B, EST. $11.78B; 20/04/2018 – AT&T, VERIZON ARE SAID TO BE FOCUS OF MOBILE SWITCHING PROBE; 20/04/2018 – U.S. SAID TO INVESTIGATE AT&T AND VERIZON OVER WIRELESS COLLUSION CLAIM – NYT , CITING; 20/04/2018 – Boston Metro: U.S. said to investigate AT&T, Verizon over wireless collusion claim; 29/04/2018 – T-Mobile seals blockbuster merger deal with Sprint, creating a ‘fierce competitor’ to AT&T, Verizon; 11/05/2018 – Verizon to speak at MoffettNathanson conference May 14; 20/04/2018 – ganadineroamerica: DOJ said to investigate AT&T, Verizon over wireless collusion claim: source WASHINGTON (Reuters) – The U.S; 03/05/2018 – Verizon: Hldrs Elect All 11 Directors, Vote in Favor of Two Management Proposals; 24/04/2018 – VERIZON – QTRLY GROSS REV FOR OATH, EX. IMPACT OF REV RECOGNITION STANDARD, DECREASED SEQUENTIALLY ABOUT 13 PCT TO $1.9 BLN; 07/03/2018 – Moody’s affirms Frontier’s B3 corporate family rating, outlook changed to stable

Cubic Asset Management Llc increased its stake in Discovery Inc (DISCA) by 10.48% based on its latest 2018Q1 regulatory filing with the SEC. Cubic Asset Management Llc bought 22,040 shares as the company’s stock declined 11.24% with the market. The institutional investor held 232,390 shares of the consumer services company at the end of 2018Q1, valued at $4.98M, up from 210,350 at the end of the previous reported quarter. Cubic Asset Management Llc who had been investing in Discovery Inc for a number of months, seems to be bullish on the $19.25B market cap company. The stock increased 0.64% or $0.18 during the last trading session, reaching $28.12. About 5.45M shares traded. Discovery, Inc. (NASDAQ:DISCA) has declined 12.73% since June 24, 2017 and is downtrending. It has underperformed by 25.30% the S&P500. Some Historical DISCA News: 17/04/2018 – Discovery President And CEO David Zaslav To Give Keynote Presentation At The J.P. Morgan 2018 Global Technology, Media And Comm; 17/04/2018 – Discovery Closes Above 50-Day Moving Average: Technicals; 08/05/2018 – Discovery Communications 1Q Loss/Shr 1c; 25/04/2018 – Digital Element Partners with Discovery Inc. to Enhance the Company’s Video Rights Accuracy with Location-Based Technology; 29/05/2018 – ITV, BBC Explore Deal to Buy UKTV Stake From Discovery -The Telegraph; 21/04/2018 – DJ Discovery Communications Inc Clas, Inst Holders, 1Q 2018 (DISCK); 18/04/2018 – Discovery Presenting at JPMorgan Conference May 16; 17/05/2018 – Discovery Class C 11% Owned by Hedge Funds; 08/05/2018 – DISCOVERY EXECUTIVES START EARNINGS CALL; 08/05/2018 – Discovery Swings to 1Q Loss Following Acquisition of Scripps

More important recent Discovery, Inc. (NASDAQ:DISCA) news were published by: Benzinga.com which released: “MKM: Discovery Undervalued Given Growth Potential, Free Cash Flow Outlook” on June 05, 2018, also Seekingalpha.com published article titled: “AMC Networks -3.6% as Bernstein cuts to Underperform”, Seekingalpha.com published: “Discovery announces new Manhattan HQ” on June 14, 2018. More interesting news about Discovery, Inc. (NASDAQ:DISCA) was released by: Fool.com and their article: “Discovery Inc. Bets Big on Golf” with publication date: June 22, 2018.

Investors sentiment increased to 2.69 in Q1 2018. Its up 1.82, from 0.87 in 2017Q4. It increased, as 42 investors sold DISCA shares while 92 reduced holdings. 123 funds opened positions while 238 raised stakes. 313.69 million shares or 37.15% more from 228.72 million shares in 2017Q4 were reported. Pictet Asset accumulated 158,889 shares. Whittier Of Nevada reported 2,616 shares stake. Institute For Wealth Ltd Liability Corporation accumulated 10,262 shares or 0.07% of the stock. Oppenheimer Asset Management invested in 0.06% or 105,070 shares. Exxonmobil Invest Mgmt Tx owns 46,751 shares. First Manhattan holds 0.28% in Discovery, Inc. (NASDAQ:DISCA) or 2.52 million shares. Principal Fin Grp Incorporated holds 739,943 shares or 0.01% of its portfolio. Toronto Dominion Fincl Bank reported 0.01% of its portfolio in Discovery, Inc. (NASDAQ:DISCA). 404,285 were accumulated by General Invsts Incorporated. Pnc Finance Serv Grp holds 33,614 shares or 0% of its portfolio. Moreover, Old Mutual Customised Solutions (Proprietary) Ltd has 0.04% invested in Discovery, Inc. (NASDAQ:DISCA) for 17,896 shares. Ubs Asset Management Americas holds 0% of its portfolio in Discovery, Inc. (NASDAQ:DISCA) for 1.02M shares. Lpl Fincl Ltd Liability Company has invested 0% in Discovery, Inc. (NASDAQ:DISCA). First Allied Advisory Service holds 15,537 shares. Northwest Inv Counselors Ltd Com invested in 0.24% or 29,572 shares.

Since February 28, 2018, it had 3 insider buys, and 3 insider sales for $33.35 million activity. $32.98M worth of Discovery, Inc. (NASDAQ:DISCA) was bought by MALONE JOHN C. 2,571 shares were sold by Sims Savalle, worth $61,902 on Wednesday, March 14. Alpert-Romm Adria sold $367,214 worth of stock or 16,238 shares. $1.07M worth of stock was bought by WARGO J DAVID on Wednesday, May 9. $212,856 worth of Discovery, Inc. (NASDAQ:DISCA) was bought by Wiedenfels Gunnar on Wednesday, May 9.

Among 35 analysts covering Discovery Communications (NASDAQ:DISCA), 13 have Buy rating, 2 Sell and 20 Hold. Therefore 37% are positive. Discovery Communications had 102 analyst reports since August 3, 2015 according to SRatingsIntel. The stock has “Buy” rating by RBC Capital Markets on Monday, August 14. Loop Capital maintained it with “Hold” rating and $21 target in Friday, November 3 report. The rating was upgraded by JP Morgan on Thursday, May 3 to “Overweight”. The stock of Discovery, Inc. (NASDAQ:DISCA) earned “Hold” rating by Wells Fargo on Thursday, January 4. Topeka Capital Markets maintained it with “Buy” rating and $40 target in Wednesday, September 30 report. The company was maintained on Wednesday, October 11 by Needham. The stock of Discovery, Inc. (NASDAQ:DISCA) earned “Hold” rating by Cowen & Co on Tuesday, September 19. KeyBanc Capital Markets maintained the stock with “Hold” rating in Friday, August 25 report. The company was maintained on Sunday, August 16 by Barclays Capital. The company was maintained on Monday, September 18 by RBC Capital Markets.

Since February 13, 2018, it had 0 insider purchases, and 2 insider sales for $444,552 activity.

Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on July, 26. They expect $1.15 earnings per share, up 19.79% or $0.19 from last year’s $0.96 per share. VZ’s profit will be $4.75B for 10.82 P/E if the $1.15 EPS becomes a reality. After $1.17 actual earnings per share reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts -1.71% negative EPS growth.

Fifth Third Bancorp, which manages about $14.68 billion US Long portfolio, upped its stake in Mondelez Intl Inc (NASDAQ:MDLZ) by 30,280 shares to 426,014 shares, valued at $17.78 million in 2018Q1, according to the filing. It also increased its holding in Marriott Intl Inc New (NASDAQ:MAR) by 2,542 shares in the quarter, for a total of 30,950 shares, and has risen its stake in Motorola Solutions Inc (NYSE:MSI).

More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Globenewswire.com which released: “Verizon announces CEO succession plan” on June 08, 2018, also Fool.com with their article: “Verizon Is Already Benefiting From the Proposed T-Mobile-Sprint Merger” published on June 22, 2018, Globenewswire.com published: “Mix and match your unlimited plans” on June 14, 2018. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Seekingalpha.com and their article: “Deutsche Bank sees multiple upsides for Verizon” published on June 19, 2018 as well as 247Wallst.com‘s news article titled: “6 Most Important Things in Business Today” with publication date: June 20, 2018.

Investors sentiment decreased to 0.97 in Q1 2018. Its down 0.05, from 1.02 in 2017Q4. It dropped, as 69 investors sold VZ shares while 675 reduced holdings. 132 funds opened positions while 593 raised stakes. 2.55 billion shares or 0.58% more from 2.54 billion shares in 2017Q4 were reported. Tci Wealth Advsr holds 0.71% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 32,250 shares. Farmers And Merchants Investments Incorporated has 0.97% invested in Verizon Communications Inc. (NYSE:VZ) for 269,079 shares. Conning Incorporated invested 1.5% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Hartford Financial Mgmt Inc owns 19,613 shares for 0.47% of their portfolio. Voloridge Invest Mgmt Limited Liability Com stated it has 1.02M shares. Cahill Fincl Advsr Inc invested 0.32% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Beaumont Ptnrs Limited Com has invested 0.06% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Wellington Shields Company Limited Liability owns 0.58% invested in Verizon Communications Inc. (NYSE:VZ) for 39,981 shares. Century reported 9.73M shares. Dumont & Blake Advisors Ltd invested in 0.3% or 14,612 shares. Halsey Assocs Incorporated Ct invested in 9,881 shares. Stonebridge Ltd holds 105,143 shares or 1.16% of its portfolio. 36,670 were accumulated by Chesley Taft & Associates Ltd Liability Corp. Denali Advsrs Ltd Llc holds 364,700 shares. 1.06 million are held by Nippon Life Insur Company.

Among 33 analysts covering Verizon Communications Inc. (NYSE:VZ), 17 have Buy rating, 0 Sell and 16 Hold. Therefore 52% are positive. Verizon Communications Inc. had 87 analyst reports since July 22, 2015 according to SRatingsIntel. The firm has “Hold” rating given on Tuesday, January 23 by SunTrust. The firm earned “Hold” rating on Thursday, October 19 by Cowen & Co. The firm has “Hold” rating by Jefferies given on Wednesday, January 24. The rating was initiated by HSBC with “Buy” on Thursday, January 19. The company was maintained on Friday, October 6 by Jefferies. The stock of Verizon Communications Inc. (NYSE:VZ) has “Outperform” rating given on Monday, January 25 by RBC Capital Markets. Zacks downgraded the shares of VZ in report on Monday, September 7 to “Hold” rating. The stock has “Hold” rating by HSBC on Thursday, December 14. Cowen & Co maintained the stock with “Hold” rating in Friday, July 28 report. The firm has “Outperform” rating given on Monday, November 20 by Wells Fargo.

Discovery, Inc. (NASDAQ:DISCA) Institutional Positions Chart

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