State of New Jersey Common Pension Fund D Sells 16,909 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of New Jersey Common Pension Fund D reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 888,725 shares of the company’s stock after selling 16,909 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $9,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in Warner Bros. Discovery during the third quarter valued at $1,031,000. Creative Planning boosted its stake in Warner Bros. Discovery by 14.1% during the third quarter. Creative Planning now owns 357,699 shares of the company’s stock valued at $2,951,000 after buying an additional 44,129 shares during the period. Bleakley Financial Group LLC boosted its stake in Warner Bros. Discovery by 48.2% during the third quarter. Bleakley Financial Group LLC now owns 20,795 shares of the company’s stock valued at $172,000 after buying an additional 6,766 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Warner Bros. Discovery by 1.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 248,508 shares of the company’s stock valued at $2,050,000 after buying an additional 4,316 shares during the period. Finally, Blue Trust Inc. boosted its stake in Warner Bros. Discovery by 132.9% during the third quarter. Blue Trust Inc. now owns 15,449 shares of the company’s stock valued at $127,000 after buying an additional 8,815 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $10.62 on Wednesday. The stock’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $9.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $26.05 billion, a price-to-earnings ratio of -2.32, a PEG ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WBD. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Rosenblatt Securities raised their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Company Profile

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.