Maryland State Retirement & Pension System Sells 9,274 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Maryland State Retirement & Pension System cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,601 shares of the company’s stock after selling 9,274 shares during the period. Maryland State Retirement & Pension System’s holdings in Warner Bros. Discovery were worth $1,370,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WBD. State Street Corp lifted its stake in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the period. Amundi lifted its stake in Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after buying an additional 5,272,717 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $23,825,000. LBP AM SA acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $21,032,000. Finally, Coronation Fund Managers Ltd. raised its position in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 Stock Up 0.8 %

Shares of NASDAQ:WBD opened at $10.74 on Friday. The company 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. 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 business has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $9.58. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

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.