Warner Bros. Discovery, Inc. (NASDAQ:WBD) Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,525 shares of the company’s stock after buying an additional 10,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Warner Bros. Discovery were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $26,000. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $41,000. Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

WBD stock opened at $10.66 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $26.15 billion, a price-to-earnings ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a 50 day moving average of $8.77 and a two-hundred day moving average of $8.12.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBD shares. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Barclays lifted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Macquarie lifted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Company 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.