Maryland State Retirement & Pension System Sells 9,274 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Maryland State Retirement & Pension System lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 129,601 shares of the company’s stock after selling 9,274 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Warner Bros. Discovery were worth $1,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Equity Partners raised its holdings in shares of Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after buying an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings 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 valued at $105,000 after buying an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings 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 valued at $169,000 after buying an additional 1,101 shares in the last quarter. Personal CFO Solutions LLC grew its position in Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Avestar Capital LLC grew its position in 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 during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WBD. Citigroup raised their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Barclays raised their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research 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. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Up 0.8 %

NASDAQ WBD opened at $10.74 on Friday. 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, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market capitalization of $26.36 billion, a PE ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. The stock’s 50 day moving average is $10.40 and its 200 day moving average is $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.