Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Lessened by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 153,328 shares of the company’s stock after selling 2,112 shares during the period. Kentucky Retirement Systems’ holdings in Warner Bros. Discovery were worth $1,621,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Handelsbanken Fonder AB raised its holdings in shares of Warner Bros. Discovery by 62.4% during the fourth quarter. Handelsbanken Fonder AB now owns 589,484 shares of the company’s stock worth $6,231,000 after acquiring an additional 226,456 shares in the last quarter. Good Life Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 19.3% during the fourth quarter. Good Life Advisors LLC now owns 11,952 shares of the company’s stock worth $126,000 after acquiring an additional 1,930 shares in the last quarter. Summit Place Financial Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 39.1% during the fourth quarter. Summit Place Financial Advisors LLC now owns 85,153 shares of the company’s stock worth $900,000 after acquiring an additional 23,925 shares in the last quarter. Rye Brook Capital LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $269,000. Finally, Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Warner Bros. Discovery by 1.3% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 227,662 shares of the company’s stock worth $2,406,000 after acquiring an additional 2,960 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WBD shares. Rosenblatt Securities increased their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group increased their target price on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Stock Down 2.4 %

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

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.