Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 474,671 shares of the company’s stock after selling 11,048 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Warner Bros. Discovery were worth $5,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its position in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. Briaud Financial Planning Inc raised its stake in shares of Warner Bros. Discovery by 258.1% in the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $33,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WBD shares. Barclays upped their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. KeyCorp upped 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. Finally, Guggenheim increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Up 0.8 %

Warner Bros. Discovery stock opened at $10.74 on Friday. The firm has a 50 day simple moving average of $10.40 and a 200-day simple moving average of $9.58. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.36 billion, a PE ratio of -2.34, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.