Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 675,993 shares of the company’s stock after buying an additional 9,085 shares during the period. Arizona State Retirement System’s holdings in Warner Bros. Discovery were worth $7,145,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Golden State Equity Partners increased its position in shares of Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after acquiring an additional 986 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in shares of Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after acquiring an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after acquiring an additional 1,101 shares in the last quarter. Avestar Capital LLC boosted its stake in shares of Warner Bros. Discovery by 9.4% during the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after acquiring an additional 1,228 shares in the last quarter. Finally, Commerce Bank boosted its stake in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBD. JPMorgan Chase & Co. raised their price target 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. KeyCorp raised their price target 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. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $11.07 on Friday. 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 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $27.16 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. The company has a fifty day moving average of $10.38 and a two-hundred day moving average of $9.36.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 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.