California Public Employees Retirement System Reduces Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

California Public Employees Retirement System reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,886,045 shares of the company's stock after selling 155,518 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Warner Bros. Discovery worth $44,223,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WBD. Forum Financial Management LP boosted its position in shares of Warner Bros. Discovery by 2.3% during the third quarter. Forum Financial Management LP now owns 42,179 shares of the company's stock valued at $458,000 after buying an additional 948 shares during the last quarter. Bridgeworth LLC boosted its position in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company's stock valued at $158,000 after buying an additional 952 shares during the last quarter. Czech National Bank boosted its position in shares of Warner Bros. Discovery by 0.3% during the fourth quarter. Czech National Bank now owns 388,660 shares of the company's stock valued at $4,423,000 after buying an additional 996 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Warner Bros. Discovery by 1.8% during the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company's stock valued at $642,000 after buying an additional 1,025 shares during the last quarter. Finally, Column Capital Advisors LLC boosted its position in shares of Warner Bros. Discovery by 26.7% during the third quarter. Column Capital Advisors LLC now owns 5,049 shares of the company's stock valued at $55,000 after buying an additional 1,063 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WBD shares. Macquarie dropped their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, January 22nd. Barrington Research lowered 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. Wells Fargo & Company downgraded Warner Bros. Discovery from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $16.00 to $12.00 in a report on Monday, January 29th. Citigroup lowered their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Finally, Wolfe Research downgraded Warner Bros. Discovery from a "peer perform" rating to an "underperform" rating and set a $7.00 target price on the stock. in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.83.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded down $0.18 during trading on Friday, hitting $8.11. The company had a trading volume of 19,754,363 shares, compared to its average volume of 25,568,130. The stock has a 50 day simple moving average of $8.62 and a 200 day simple moving average of $9.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76. The firm has a market capitalization of $19.79 billion, a P/E ratio of -6.34 and a beta of 1.51.

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

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.