Louisiana State Employees Retirement System Purchases New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Louisiana State Employees Retirement System bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 328,000 shares of the company's stock, valued at approximately $3,733,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Providence Capital Advisors LLC increased its holdings in Warner Bros. Discovery by 1,410.1% in the first quarter. Providence Capital Advisors LLC now owns 2,099 shares of the company's stock valued at $139,000 after buying an additional 1,960 shares during the last quarter. KB Financial Partners LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at about $32,000. Fortis Group Advisors LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at about $25,000. Pacifica Partners Inc. increased its holdings in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company's stock valued at $27,000 after buying an additional 1,345 shares during the last quarter. Finally, Peoples Bank KS bought a new stake in Warner Bros. Discovery in the third quarter valued at about $27,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded up $0.02 during trading on Monday, hitting $8.36. The company's stock had a trading volume of 27,253,529 shares, compared to its average volume of 26,795,188. The company has a 50-day moving average of $8.89 and a 200-day moving average of $10.10. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $20.40 billion, a price-to-earnings ratio of -6.53 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $10.28 billion for the quarter, compared to analysts' expectations of $10.34 billion. During the same period last year, the business earned $0.42 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barrington Research dropped their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "outperform" rating on the stock in a report on Monday, February 26th. Macquarie dropped their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Monday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, February 26th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a "sell" rating to a "neutral" rating and boosted their price target for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Finally, Citigroup decreased their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and a consensus target price of $14.24.

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.