Strs Ohio Purchases 329,460 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Strs Ohio boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,228,000 shares of the company's stock after acquiring an additional 329,460 shares during the quarter. Strs Ohio owned 0.09% of Warner Bros. Discovery worth $25,354,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in Warner Bros. Discovery by 124,559.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company's stock worth $266,158,000 after buying an additional 28,053,216 shares in the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter worth about $196,222,000. Boston Partners lifted its position in Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company's stock worth $153,713,000 after buying an additional 4,275,994 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Warner Bros. Discovery during the 3rd quarter worth about $49,058,000. Finally, Invesco Ltd. lifted its position in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company's stock worth $306,085,000 after buying an additional 4,016,888 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.22 on Tuesday, reaching $8.14. 33,896,496 shares of the company's stock were exchanged, compared to its average volume of 26,892,598. The company has a fifty day moving average of $8.86 and a 200-day moving average of $10.08. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of -6.36 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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 return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on WBD. Wells Fargo & Company cut shares of Warner Bros. Discovery from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. JPMorgan Chase & Co. lowered their price objective 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. Barclays lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 29th. Redburn Atlantic lowered shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 11th. Finally, Barrington Research lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Monday, February 26th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.24.

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.