Teachers Retirement System of The State of Kentucky Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Teachers Retirement System of The State of Kentucky lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,494 shares of the company’s stock after selling 8,597 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Warner Bros. Discovery were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of WBD. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $25,000. Pacifica Partners Inc. grew its position in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares in the last quarter. Headinvest LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $28,000. FinTrust Capital Advisors LLC increased its stake in shares of Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $7.04 on Friday. The stock has a 50-day moving average of $7.98 and a two-hundred day moving average of $9.27. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $17.25 billion, a P/E ratio of -5.68 and a beta of 1.53. Warner Bros. Discovery, Inc. has a one year low of $6.94 and a one year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the company earned $0.18 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on WBD shares. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their target price for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. JPMorgan Chase & Co. lowered their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Finally, Morgan Stanley decreased their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.16.

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.