Teachers Retirement System of The State of Kentucky Sells 9,459 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Teachers Retirement System of The State of Kentucky lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 166,389 shares of the company’s stock after selling 9,459 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Warner Bros. Discovery were worth $1,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position in Warner Bros. Discovery by 18.9% during the third quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company’s stock worth $219,000 after buying an additional 4,176 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of Warner Bros. Discovery by 27.2% during the third quarter. Prestige Wealth Management Group LLC now owns 46,206 shares of the company’s stock worth $381,000 after purchasing an additional 9,874 shares in the last quarter. M&T Bank Corp increased its position in shares of Warner Bros. Discovery by 5.5% in the third quarter. M&T Bank Corp now owns 142,588 shares of the company’s stock worth $1,177,000 after purchasing an additional 7,373 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Warner Bros. Discovery by 8.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 835,884 shares of the company’s stock valued at $6,896,000 after purchasing an additional 61,870 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Warner Bros. Discovery during the third quarter valued at approximately $3,827,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report 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 report on Monday, November 11th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.33.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s 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 transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Down 2.2 %

NASDAQ WBD opened at $11.35 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a market cap of $27.84 billion, a P/E ratio of -2.48 and a beta of 1.52. The stock has a 50 day simple moving average of $9.19 and a two-hundred day simple moving average of $8.27.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

About Warner Bros. Discovery

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.