New York State Teachers Retirement System Trims Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York State Teachers Retirement System reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,875,935 shares of the company’s stock after selling 72,908 shares during the period. New York State Teachers Retirement System owned 0.08% of Warner Bros. Discovery worth $19,829,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Larson Financial Group LLC increased its position in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction dated 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 owns 599,317 shares in the company, valued at approximately $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 can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Barclays increased their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Macquarie increased their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.34 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $25.37 billion, a P/E ratio of -2.26, a P/E/G ratio of 7.98 and a beta of 1.49. The business’s fifty day moving average is $10.40 and its two-hundred day moving average is $9.04. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

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.