Teacher Retirement System of Texas Purchases 6,217 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Teacher Retirement System of Texas lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,802 shares of the company’s stock after purchasing an additional 6,217 shares during the period. Teacher Retirement System of Texas’ holdings in Warner Bros. Discovery were worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after buying an additional 1,940 shares during the last quarter. Ethos Financial Group LLC bought a new position in Warner Bros. Discovery during the fourth quarter valued at about $29,000. Briaud Financial Planning Inc increased its holdings in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WBD. Guggenheim increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. KeyCorp boosted their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Barclays increased their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Down 4.8 %

Shares of NASDAQ:WBD opened at $10.21 on Wednesday. The firm has a fifty day moving average price of $10.55 and a two-hundred day moving average price of $9.76. The company has a market cap of $25.06 billion, a price-to-earnings ratio of -2.23, a PEG ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.