Is Discovery (DISCA) A Good Stock To Buy?

Alex Smith
·2 min read
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ClearBridge Investments, an investment management firm, published its “All Cap Growth Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge All Cap Growth Strategy outperformed its Russell 3000 Growth Index benchmark during the first quarter. On an absolute basis, the Strategy had gains across eight of the 10 sectors in which it was invested (out of 11 sectors total). You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Discovery Inc. (NASDAQ:DISCA) is one of them. Discovery Inc. (NASDAQ:DISCA) is a mass media company. In the last three months, Discovery Inc. (NASDAQ:DISCA) stock lost 58%. Here is what the fund said:

"Discovery was among the top contributors for the quarter, even with alate March selloff as one of the media stocks caught up in the unwind of family office Archegos Capital Management. After being late to the expansion of programming from cable to streaming, both Discovery and AMC Networks have seen strong initial subscriber growth to their over-the-top services."

Most Expensive Televisions In the World
Most Expensive Televisions In the World

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Our calculations showed that Discovery Inc. (NASDAQ:DISCA) isn't ranked among the 30 most popular stocks among hedge funds.

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Disclosure: None. This article is originally published at Insider Monkey.