Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,525 shares of the company’s stock after selling 9,026 shares during the quarter. Kentucky Retirement Systems’ holdings in Warner Bros. Discovery were worth $1,471,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado raised its holdings in shares of Warner Bros. Discovery by 5,128.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after acquiring an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Warner Bros. Discovery by 23.5% during the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock worth $584,000 after buying an additional 5,081 shares during the period. Global Assets Advisory LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $182,000. Finally, SageView Advisory Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $129,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 4.0 %

Shares of WBD stock traded up $0.32 during trading hours on Friday, reaching $8.31. The company had a trading volume of 22,906,845 shares, compared to its average volume of 27,455,124. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. Warner Bros. Discovery, Inc. has a twelve month low of $6.94 and a twelve month high of $14.76. The company has a market capitalization of $20.36 billion, a P/E ratio of -6.70 and a beta of 1.49. The stock’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $8.54.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter last year, the business posted $0.18 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research report on Tuesday, June 25th. They set a “neutral” rating and a $8.50 target price on the stock. Barrington Research reiterated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Evercore ISI reduced their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $11.87.

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.