Public Employees Retirement System of Ohio Sells 47,743 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Public Employees Retirement System of Ohio reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 833,953 shares of the company's stock after selling 47,743 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Warner Bros. Discovery were worth $8,815,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WBD. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter worth about $362,210,000. Contrarius Group Holdings Ltd bought a new stake in Warner Bros. Discovery during the 4th quarter worth about $168,930,000. FMR LLC lifted its position in Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP lifted its position in Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in Warner Bros. Discovery during the 4th quarter worth about $64,847,000. 59.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business's stock in a transaction dated 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 acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD traded down $0.19 on Friday, reaching $9.85. The company had a trading volume of 52,968,974 shares, compared to its average volume of 33,543,291. 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 cap of $24.18 billion, a P/E ratio of -2.15, a P/E/G ratio of 8.64 and a beta of 1.46. The company's fifty day moving average is $8.94 and its 200 day moving average is $9.93. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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 business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the company earned ($0.40) EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Raymond James cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Benchmark restated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and an average price target of $12.17.

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.