New York State Teachers Retirement System Grows Holdings in Warner Bros. Discovery, Inc. $WBD

New York State Teachers Retirement System increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,866,235 shares of the company’s stock after purchasing an additional 55,353 shares during the period. New York State Teachers Retirement System owned 0.08% of Warner Bros. Discovery worth $51,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $29,000. MV Capital Management Inc. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $30,000. Rakuten Securities Inc. increased its position in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares during the period. Finally, TOWER TRUST & INVESTMENT Co increased its position in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after acquiring an additional 1,230 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $26.48 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $10.76 and a 52 week high of $30.00. The company has a 50-day moving average price of $26.91 and a 200 day moving average price of $27.63. The company has a market cap of $66.39 billion, a P/E ratio of -37.83 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WBD. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Seaport Research Partners upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Finally, UBS Group lifted their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company Profile

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.