Louisiana State Employees Retirement System Invests $3.73 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Louisiana State Employees Retirement System bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 328,000 shares of the company’s stock, valued at approximately $3,733,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC increased 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 valued at $266,158,000 after buying an additional 28,053,216 shares in the last quarter. Norges Bank acquired a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $196,222,000. Boston Partners boosted its stake in Warner Bros. Discovery by 43.0% in the 3rd 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 in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at approximately $49,058,000. Finally, Invesco Ltd. raised its holdings in shares of Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after buying an additional 4,016,888 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WBD shares. Macquarie cut their target price 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. Citigroup decreased their target price 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. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, March 4th. Finally, Barclays lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.24.

Warner Bros. Discovery Trading Down 2.3 %

WBD opened at $8.34 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $8.93 and its two-hundred day simple moving average is $10.12. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of -6.52 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.