Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 70,580 shares of the company’s stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBD. Vanguard Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock valued at $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $362,210,000. Slate Path Capital LP boosted its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock valued at $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Warner Bros. Discovery by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company’s stock valued at $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.90 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The stock has a market cap of $26.76 billion, a P/E ratio of -2.48 and a beta of 1.51. The company has a 50-day moving average of $9.31 and a two-hundred day moving average of $9.94. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business’s revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Citigroup decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.17.

About Warner Bros. Discovery

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.