New York State Teachers Retirement System lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,875,935 shares of the company's stock after selling 72,908 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Warner Bros. Discovery worth $19,829,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $37,000. Larson Financial Group LLC increased its position in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company's stock valued at $41,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its stake in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock valued at $48,000 after purchasing an additional 3,743 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.
Warner Bros. Discovery Stock Up 1.4 %
WBD traded up $0.15 during trading on Thursday, reaching $11.04. The company had a trading volume of 29,516,781 shares, compared to its average volume of 26,380,203. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The business's fifty day moving average price is $10.39 and its 200 day moving average price is $9.09. The company has a market cap of $27.08 billion, a P/E ratio of -2.41, a PEG ratio of 8.31 and a beta of 1.49.
Insider Buying and Selling at Warner Bros. Discovery
In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company's stock.
Analyst Ratings Changes
WBD has been the topic of several recent research reports. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Rosenblatt Securities raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. KeyCorp raised their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.76.
Get Our Latest Stock Report on Warner Bros. Discovery
Warner Bros. Discovery Profile
(
Free Report)
Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.
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