Kentucky Retirement Systems Decreases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kentucky Retirement Systems decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,328 shares of the company’s stock after selling 2,112 shares during the quarter. Kentucky Retirement Systems’ holdings in Warner Bros. Discovery were worth $1,621,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $37,000. Larson Financial Group LLC raised its stake in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.78 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a market capitalization of $26.45 billion, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The business has a 50 day simple moving average of $10.33 and a 200 day simple moving average of $9.14. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research reports. Macquarie upped their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Raymond James upped their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Guggenheim upped their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group increased their price target 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.76.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.