Warner Bros. Discovery, Inc. $WBD Stock Holdings Lifted by California State Teachers Retirement System

California State Teachers Retirement System increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2,593.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,581,582 shares of the company’s stock after acquiring an additional 92,996,028 shares during the quarter. California State Teachers Retirement System’s holdings in Warner Bros. Discovery were worth $2,574,865,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC raised its stake in Warner Bros. Discovery by 111.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after purchasing an additional 496 shares during the period. Field & Main Bank acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at $26,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $29,000. Finally, Elevation Wealth Partners LLC boosted its position in shares of Warner Bros. Discovery by 64.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after buying an additional 395 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Seaport Research Partners downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $28.20 on Friday. The business’s 50-day moving average price is $27.20 and its two-hundred day moving average price is $27.24. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. Warner Bros. Discovery, Inc. has a one year low of $12.56 and a one year high of $30.00. The company has a market capitalization of $70.80 billion, a P/E ratio of -22.20 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The company had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Zaslav sold 194,999 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $28.02, for a total value of $5,463,871.98. Following the transaction, the chief executive officer owned 6,807,934 shares in the company, valued at approximately $190,758,310.68. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Lowe sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $28.35, for a total transaction of $5,670,000.00. Following the transaction, the director directly owned 790,108 shares in the company, valued at approximately $22,399,561.80. The trade was a 20.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,553,034 shares of company stock worth $70,990,967 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.