State of New Jersey Common Pension Fund D Sells 16,909 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 888,725 shares of the company’s stock after selling 16,909 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $9,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WBD. AMF Tjanstepension AB bought a new position in Warner Bros. Discovery in the third quarter worth approximately $1,031,000. Creative Planning boosted its holdings in Warner Bros. Discovery by 14.1% in the third quarter. Creative Planning now owns 357,699 shares of the company’s stock worth $2,951,000 after acquiring an additional 44,129 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Warner Bros. Discovery by 48.2% in the third quarter. Bleakley Financial Group LLC now owns 20,795 shares of the company’s stock worth $172,000 after acquiring an additional 6,766 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Warner Bros. Discovery by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 248,508 shares of the company’s stock worth $2,050,000 after acquiring an additional 4,316 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Warner Bros. Discovery by 132.9% in the third quarter. Blue Trust Inc. now owns 15,449 shares of the company’s stock worth $127,000 after acquiring an additional 8,815 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.62 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day simple moving average of $10.39 and a two-hundred day simple moving average of $9.06. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $26.05 billion, a P/E ratio of -2.32, a P/E/G ratio of 7.98 and a beta of 1.49.

Analysts Set New Price Targets

WBD has been the topic of several recent research reports. Raymond James increased their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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 research note on Friday, December 13th. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

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.