California State Teachers Retirement System Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

California State Teachers Retirement System reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,230,972 shares of the company's stock after selling 275,258 shares during the quarter. California State Teachers Retirement System owned 0.13% of Warner Bros. Discovery worth $34,151,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WBD. Colonial Trust Advisors raised its position in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at $29,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of several analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 13th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Morgan Stanley reduced their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. KeyCorp dropped their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Barclays lifted their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.17.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.90% of the company's stock.

Warner Bros. Discovery Stock Down 1.9%

Shares of WBD traded down $0.19 during trading hours on Friday, reaching $9.85. 52,968,974 shares of the stock traded hands, compared to its average volume of 33,543,275. 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 fifty day simple moving average of $8.94 and a 200 day simple moving average of $9.93. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market cap of $24.18 billion, a price-to-earnings ratio of -2.15, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter last year, the business posted ($0.40) EPS. The business's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.