Texas Permanent School Fund decreased its stake in shares of Discovery Communications Inc. (NASDAQ:DISCA) by 7.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,075 shares of the company’s stock after selling 3,007 shares during the period. Texas Permanent School Fund’s holdings in Discovery Communications were worth $1,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Discovery Communications in the 3rd quarter valued at about $1,245,000. Westbourne Investment Advisors Inc. acquired a new stake in shares of Discovery Communications in the 3rd quarter valued at about $204,000. Andra AP fonden boosted its position in shares of Discovery Communications by 23.3% in the 3rd quarter. Andra AP fonden now owns 216,700 shares of the company’s stock valued at $6,934,000 after purchasing an additional 41,000 shares during the period. DNB Asset Management AS boosted its position in shares of Discovery Communications by 18.8% in the 3rd quarter. DNB Asset Management AS now owns 15,767 shares of the company’s stock valued at $505,000 after purchasing an additional 2,500 shares during the period. Finally, Atria Investments LLC acquired a new stake in shares of Discovery Communications in the 3rd quarter valued at about $340,000. Institutional investors own 37.19% of the company’s stock.

DISCA has been the subject of a number of research analyst reports. Pivotal Research cut Discovery Communications from a “hold” rating to a “sell” rating and set a $26.00 target price for the company. in a research report on Tuesday, September 18th. Credit Suisse Group raised Discovery Communications from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $40.00 in a research report on Wednesday, October 10th. Bank of America increased their price objective on Discovery Communications from $30.00 to $35.50 and gave the stock a “buy” rating in a research report on Thursday, September 13th. Jefferies Financial Group raised Discovery Communications from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday, August 21st. Finally, JPMorgan Chase & Co. increased their price objective on Discovery Communications to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.22.

In other news, General Counsel Savalle Sims sold 1,666 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $28.21, for a total transaction of $46,997.86. Following the completion of the transaction, the general counsel now directly owns 208 shares of the company’s stock, valued at approximately $5,867.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth W. Lowe sold 183,621 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $25.58, for a total value of $4,697,025.18. Following the transaction, the director now directly owns 1,331,277 shares of the company’s stock, valued at $34,054,065.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 317,374 shares of company stock valued at $8,811,521. Company insiders own 6.73% of the company’s stock.

Discovery Communications stock opened at $32.98 on Friday. Discovery Communications Inc. has a twelve month low of $15.99 and a twelve month high of $34.89. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.84. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.56 and a beta of 1.24.

Discovery Communications (NASDAQ:DISCA) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.60 billion. Discovery Communications had a positive return on equity of 17.68% and a negative net margin of 8.28%. The firm’s revenue was up 57.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, research analysts forecast that Discovery Communications Inc. will post 2.63 EPS for the current year.

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Discovery Communications Profile

Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.

Further Reading: Do You Need a Fiduciary?

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Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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