Louisiana State Employees Retirement System Has $3.16 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Louisiana State Employees Retirement System lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,200 shares of the company’s stock after selling 13,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Warner Bros. Discovery were worth $3,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares during the last quarter. Hauser Brothers GmbH lifted its position in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares during the last quarter. Private Management Group Inc. lifted its position in shares of 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 purchasing an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $1,474,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In related 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 transaction of $2,094,228.96. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WBD shares. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Trading Up 3.9 %

Shares of WBD opened at $10.20 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $10.41 and a 200-day simple moving average of $9.02. The stock has a market cap of $25.02 billion, a PE ratio of -2.23, a PEG ratio of 7.98 and a beta of 1.49.

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.