Kentucky Retirement Systems Insurance Trust Fund Invests $757,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,580 shares of the company's stock, valued at approximately $757,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Advisors boosted its holdings in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth $28,000. Ethos Financial Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth $29,000. Finally, Briaud Financial Planning Inc boosted its holdings in shares of Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after acquiring an additional 2,000 shares during the period. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WBD shares. Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Benchmark reiterated a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded down $0.03 during trading hours on Wednesday, reaching $10.87. 42,888,382 shares of the stock traded hands, compared to its average volume of 35,447,729. The stock has a 50 day simple moving average of $9.37 and a two-hundred day simple moving average of $9.95. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $26.68 billion, a price-to-earnings ratio of -2.47 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the previous year, the business earned ($0.40) EPS. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery 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.