Teacher Retirement System of Texas Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Teacher Retirement System of Texas lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1,462.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 340,697 shares of the company's stock after purchasing an additional 318,895 shares during the quarter. Teacher Retirement System of Texas' holdings in Warner Bros. Discovery were worth $3,656,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Warner Bros. Discovery by 2.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 257,322 shares of the company's stock worth $2,761,000 after buying an additional 6,255 shares during the period. Cidel Asset Management Inc. boosted its stake in Warner Bros. Discovery by 33.0% during the first quarter. Cidel Asset Management Inc. now owns 28,792 shares of the company's stock worth $309,000 after buying an additional 7,141 shares during the period. Mather Group LLC. boosted its stake in Warner Bros. Discovery by 6.9% during the first quarter. Mather Group LLC. now owns 33,177 shares of the company's stock worth $356,000 after buying an additional 2,147 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $719,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 3.5%

Shares of Warner Bros. Discovery stock opened at $11.41 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a 50 day moving average of $9.89 and a 200 day moving average of $9.94. The company has a market capitalization of $28.01 billion, a P/E ratio of -2.59 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data 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 return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the previous year, the business posted ($0.40) EPS. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WBD shares. Barrington Research reaffirmed an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Raymond James Financial lowered their target price on shares of 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. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.21.

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.

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