Warner Bros. Discovery, Inc. $WBD Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,866,235 shares of the company’s stock after buying an additional 55,353 shares during the quarter. New York State Teachers Retirement System’s holdings in Warner Bros. Discovery were worth $51,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Advisory Group LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth $3,438,000. Hauser Brothers GmbH grew its stake in Warner Bros. Discovery by 19.8% in the 3rd quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock valued at $56,188,000 after acquiring an additional 476,000 shares during the last quarter. Triad Investment Management acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $9,383,000. Mn Services Vermogensbeheer B.V. increased its holdings in Warner Bros. Discovery by 4.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after acquiring an additional 38,105 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Warner Bros. Discovery by 130.8% during the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock valued at $29,069,000 after acquiring an additional 571,612 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.48 on Friday. The stock has a market capitalization of $66.39 billion, a P/E ratio of -37.83 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12-month low of $10.76 and a 12-month high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s 50-day moving average is $26.91 and its two-hundred day moving average is $27.63.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) EPS. Equities analysts predict that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. UBS Group raised their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday. Finally, Wells Fargo & Company started coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.