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

Louisiana State Employees Retirement System trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. increased its stake 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 buying an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Warner Bros. Discovery by 2.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after buying an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after buying an additional 687,612 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.20 on Friday. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of -2.23, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The stock’s 50-day moving average is $10.41 and its 200-day moving average is $9.02. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WBD shares. Barclays raised their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Bank of America restated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease 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. Corporate insiders own 1.80% of the company’s stock.

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.