Treasurer of the State of North Carolina Sells 20,440 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Treasurer of the State of North Carolina trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,093,729 shares of the company’s stock after selling 20,440 shares during the period. Treasurer of the State of North Carolina’s holdings in Warner Bros. Discovery were worth $11,561,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WBD. Vanguard Group Inc. boosted its holdings in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after purchasing an additional 1,991,441 shares during the period. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $362,210,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock valued at $174,904,000 after purchasing an additional 861,656 shares in the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $168,930,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Down 1.6 %

Warner Bros. Discovery stock opened at $7.97 on Friday. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of -1.74, a PEG ratio of 8.64 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $9.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on WBD. Raymond James cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Citigroup lifted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. The Goldman Sachs Group boosted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays decreased their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $11.71.

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.