New York State Common Retirement Fund Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York State Common Retirement Fund lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,685,447 shares of the company’s stock after selling 213,171 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Warner Bros. Discovery worth $19,180,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WBD. Caprock Group LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $160,000. UMB Bank n.a. grew its stake in shares of Warner Bros. Discovery by 121.8% in the 3rd quarter. UMB Bank n.a. now owns 14,051 shares of the company’s stock worth $153,000 after buying an additional 7,716 shares in the last quarter. Czech National Bank increased its holdings in shares of Warner Bros. Discovery by 47.7% in the 3rd quarter. Czech National Bank now owns 387,664 shares of the company’s stock worth $4,210,000 after buying an additional 125,233 shares during the last quarter. Clarius Group LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth about $125,000. Finally, U.S. Capital Wealth Advisors LLC raised its position in shares of Warner Bros. Discovery by 7.7% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 146,158 shares of the company’s stock valued at $1,587,000 after buying an additional 10,426 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $8.11 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76. The company has a market capitalization of $19.79 billion, a PE ratio of -6.34 and a beta of 1.51. The company has a 50 day moving average price of $8.62 and a 200-day moving average price of $9.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. Warner Bros. Discovery’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, April 23rd. Citigroup decreased their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Redburn Atlantic downgraded 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. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Finally, Macquarie lowered their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.83.

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.