Texas Permanent School Fund Corp Has $2.73 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Texas Permanent School Fund Corp reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 366,742 shares of the company’s stock after selling 91,640 shares during the period. Texas Permanent School Fund Corp’s holdings in Warner Bros. Discovery were worth $2,729,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Public Employees Retirement Association of Colorado lifted its position in Warner Bros. Discovery by 5,128.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after acquiring an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in Warner Bros. Discovery by 8.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares in the last quarter. Global Assets Advisory LLC bought a new position in Warner Bros. Discovery during the 1st quarter worth $182,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $129,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WBD. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday. Barclays decreased their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Moffett Nathanson cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Stock Up 0.8 %

Shares of NASDAQ:WBD opened at $8.56 on Tuesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market capitalization of $20.97 billion, a PE ratio of -6.90 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average of $7.78 and a 200-day moving average of $7.97.

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