State of New Jersey Common Pension Fund D Reduces Position in Warner Bros. Discovery, Inc. $WBD

State of New Jersey Common Pension Fund D cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 808,789 shares of the company’s stock after selling 79,936 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $8,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Brighton Jones LLC lifted its holdings in shares of Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Warner Bros. Discovery by 201.5% in the fourth quarter. Forum Financial Management LP now owns 43,203 shares of the company’s stock worth $457,000 after buying an additional 28,874 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Warner Bros. Discovery by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,844,495 shares of the company’s stock valued at $82,906,000 after purchasing an additional 65,939 shares in the last quarter. Norinchukin Bank The raised its stake in Warner Bros. Discovery by 25.7% in the fourth quarter. Norinchukin Bank The now owns 177,265 shares of the company’s stock valued at $1,874,000 after purchasing an additional 36,240 shares in the last quarter. Finally, Ossiam raised its stake in Warner Bros. Discovery by 176.5% in the fourth quarter. Ossiam now owns 30,316 shares of the company’s stock valued at $320,000 after purchasing an additional 19,352 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Up 0.6%

WBD stock opened at $11.85 on Monday. The firm has a fifty day moving average price of $11.69 and a 200 day moving average price of $10.37. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $13.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $29.34 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.58 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($4.07) EPS. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WBD shares. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Bank of America raised their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Raymond James Financial lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. KeyCorp lowered their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Finally, Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

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.