State of Alaska Department of Revenue Sells 5,560 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of Alaska Department of Revenue lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 254,510 shares of the company’s stock after selling 5,560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Warner Bros. Discovery were worth $2,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery during the 4th quarter worth $33,000. New Wave Wealth Advisors LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $37,000. Rosenberg Matthew Hamilton boosted its position in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares in the last quarter. Larson Financial Group LLC increased its holdings 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 worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Tompkins Financial Corp grew its holdings in Warner Bros. Discovery by 50.8% during the 4th quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock worth $56,000 after acquiring an additional 1,780 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WBD. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Rosenblatt Securities boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, KeyCorp raised their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Price Performance

WBD opened at $10.16 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.92 billion, a price-to-earnings ratio of -2.22, a PEG ratio of 7.98 and a beta of 1.49. The business’s fifty day simple moving average is $10.45 and its 200-day simple moving average is $8.99.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the business posted ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

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.