State of Alaska Department of Revenue Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of Alaska Department of Revenue reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

A number of other large investors have also recently made changes to their positions in WBD. Golden State Equity Partners grew its position in shares of Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after buying an additional 1,101 shares during the period. Commerce Bank increased its holdings in Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after purchasing an additional 1,286 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Warner Bros. Discovery by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company’s stock valued at $1,939,000 after buying an additional 1,387 shares during the period. Finally, GAM Holding AG lifted its position in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research analyst reports. Guggenheim increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Down 0.4 %

Shares of WBD opened at $10.16 on Monday. The stock has a market capitalization of $24.92 billion, a PE ratio of -2.22, a P/E/G ratio of 7.98 and a beta of 1.49. 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 firm’s 50 day moving average is $10.45 and its 200-day moving average is $8.99. 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 issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery 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.