Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,348,805 shares of the company’s stock after buying an additional 19,730 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $15,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. boosted its holdings in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after acquiring an additional 2,356,665 shares during the period. Northern Trust Corp boosted its holdings in shares of Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after acquiring an additional 524,965 shares during the period. Boston Partners raised its stake in shares of Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Warner Bros. Discovery by 9.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock worth $142,239,000 after purchasing an additional 1,180,825 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Citigroup cut their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Thursday, January 11th. Barrington Research cut their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. cut their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded down $0.09 during mid-day trading on Thursday, reaching $8.29. The stock had a trading volume of 24,660,655 shares, compared to its average volume of 26,472,490. The firm’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $10.01. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76. The firm has a market cap of $20.23 billion, a PE ratio of -6.47 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share 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 business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same period in the prior year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 EPS 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.