Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $5.02 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 474,671 shares of the company’s stock after selling 11,048 shares during the quarter. 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after purchasing an additional 329,620 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Warner Bros. Discovery by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after purchasing an additional 861,656 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $168,930,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 0.8 %

Warner Bros. Discovery stock opened at $10.74 on Friday. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of -2.34, a P/E/G 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. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a fifty day moving average price of $10.40 and a two-hundred day moving average price of $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). 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 $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WBD shares. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays lifted 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. Finally, Citigroup lifted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

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.