Kentucky Retirement Systems Insurance Trust Fund Trims Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.1% in the third quarter, HoldingsChannel reports. The fund owned 66,061 shares of the company’s stock after selling 5,859 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Warner Bros. Discovery were worth $545,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after buying an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after acquiring an additional 719,869 shares in the last quarter. Yacktman Asset Management LP grew its position in Warner Bros. Discovery by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after purchasing an additional 100,565 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after purchasing an additional 1,452,913 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.7 %

Shares of NASDAQ:WBD opened at $9.47 on Tuesday. The company has a market cap of $23.22 billion, a price-to-earnings ratio of -2.07 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $8.10 and a 200 day moving average price of $7.88.

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

Analyst Ratings Changes

A number of research firms have recently commented on WBD. Macquarie increased their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, 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.