Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1,462.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 340,697 shares of the company's stock after acquiring an additional 318,895 shares during the period. Teacher Retirement System of Texas' holdings in Warner Bros. Discovery were worth $3,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC increased its stake in Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after buying an additional 1,991,441 shares during the period. Norges Bank acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $362,210,000. Slate Path Capital LP lifted its holdings 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, The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after buying an additional 1,725,775 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent research reports. UBS Group upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wells Fargo & Company upped their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Raymond James Financial decreased their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. KeyCorp cut their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Price Performance

WBD traded up $0.08 during trading on Friday, hitting $11.73. The stock had a trading volume of 70,357,511 shares, compared to its average volume of 37,051,351. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company's 50-day moving average price is $10.07 and its 200 day moving average price is $9.96.

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

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.