New York State Common Retirement Fund Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York State Common Retirement Fund cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 1,320,039 shares of the company’s stock after selling 83,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Warner Bros. Discovery were worth $13,953,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its holdings in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. Drexel Morgan & Co. lifted its position in shares of Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after purchasing an additional 2,000,000 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent analyst reports. Guggenheim increased their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, KeyCorp upped their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Transactions at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on 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 sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was 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 link. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Down 2.4 %

Shares of Warner Bros. Discovery stock opened at $10.78 on Monday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $26.45 billion, a P/E ratio of -2.35, a PEG ratio of 8.64 and a beta of 1.49. 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 fifty day moving average of $10.33 and a two-hundred day moving average of $9.14.

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.