Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 758,425 shares of the company’s stock after selling 27,000 shares during the quarter. State of Michigan Retirement System’s holdings in Warner Bros. Discovery were worth $8,631,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WBD. Moneta Group Investment Advisors LLC boosted 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 acquiring an additional 28,053,216 shares during the period. Norges Bank acquired a new position in Warner Bros. Discovery during the 4th quarter worth $196,222,000. State Street Corp boosted its position in Warner Bros. Discovery by 7.7% during the 2nd quarter. State Street Corp now owns 118,339,932 shares of the company’s stock worth $1,483,983,000 after acquiring an additional 8,495,066 shares during the period. Boston Partners boosted 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 acquiring an additional 4,275,994 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Warner Bros. Discovery during the 3rd quarter worth $49,058,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WBD shares. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research report on Thursday, January 11th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. 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 report on Thursday, February 29th. 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 report on Monday, February 26th. Finally, Macquarie cut their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $14.24.

View Our Latest Stock Analysis on WBD

Warner Bros. Discovery Trading Up 2.9 %

Shares of NASDAQ WBD opened at $8.73 on Thursday. The company has a market cap of $21.30 billion, a price-to-earnings ratio of -6.82 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $15.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $10.26.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) 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 business posted $0.42 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.34 EPS for the current year.

About Warner Bros. Discovery

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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