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

Kentucky Retirement Systems lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 155,440 shares of the company’s stock after selling 12,588 shares during the quarter. Kentucky Retirement Systems’ holdings in Warner Bros. Discovery were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Private Management Group Inc. grew its stake in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares during the period. International Assets Investment Management LLC lifted its stake in Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after purchasing an additional 163,295 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Warner Bros. Discovery by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after purchasing an additional 105,321 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Macquarie upped their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Trading Up 2.7 %

NASDAQ WBD opened at $9.47 on Tuesday. The stock has a 50-day moving average of $8.10 and a 200-day moving average of $7.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market cap of $23.22 billion, a PE ratio of -2.07 and a beta of 1.48.

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

Warner Bros. Discovery 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.