New York State Teachers Retirement System Has $18.30 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York State Teachers Retirement System cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,705,813 shares of the company's stock after selling 170,122 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Warner Bros. Discovery worth $18,303,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Colonial Trust Advisors raised its holdings in 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 purchasing an additional 996 shares during the period. SRS Capital Advisors Inc. raised its stake in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after buying an additional 1,940 shares during the period. Graney & King LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth about $28,000. Ethos Financial Group LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth about $29,000. Finally, Briaud Financial Planning Inc grew its stake in Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after acquiring an additional 2,000 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD stock traded up $0.09 during trading hours on Friday, reaching $11.21. The stock had a trading volume of 24,154,256 shares, compared to its average volume of 36,356,643. The stock has a 50-day simple moving average of $9.79 and a 200 day simple moving average of $9.93. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a market capitalization of $27.51 billion, a PE ratio of -2.55 and a beta of 1.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on WBD shares. KeyCorp cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Barclays upped their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, Morgan Stanley dropped their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.33.

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.