Retirement Systems of Alabama trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,553,405 shares of the company's stock after selling 425,763 shares during the quarter. Retirement Systems of Alabama owned 0.14% of Warner Bros. Discovery worth $38,128,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential PLC lifted its holdings in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after acquiring an additional 32,102 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $4,914,000. SVB Wealth LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $168,000. Polar Asset Management Partners Inc. acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $3,022,000. Finally, Natixis Advisors LLC lifted its holdings in Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock valued at $3,076,000 after acquiring an additional 10,024 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on WBD shares. KeyCorp cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barclays upped their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.
Check Out Our Latest Analysis on WBD
Warner Bros. Discovery Price Performance
Shares of WBD opened at $10.52 on Friday. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of -2.39 and a beta of 1.51. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week 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 business's 50-day moving average is $9.21 and its 200-day moving average is $9.94.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its 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 business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the company earned ($0.40) EPS. Warner Bros. Discovery's revenue for the quarter was down 9.8% on a year-over-year basis. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.
About Warner Bros. Discovery
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).
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