State of New Jersey Common Pension Fund D Has $6.79 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of New Jersey Common Pension Fund D lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 912,115 shares of the company’s stock after selling 436,690 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $6,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Family Firm Inc. bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $27,000. OFI Invest Asset Management increased its stake in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. First Financial Corp IN increased its stake in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on WBD. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. Macquarie reduced their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group reduced their target price on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $8.49 on Monday. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of -6.85 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company’s fifty day moving average is $7.75 and its 200 day moving average is $7.98.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.51) EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

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.