Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,356 shares of the company’s stock after purchasing an additional 52,632 shares during the period. Illinois Municipal Retirement Fund’s holdings in Warner Bros. Discovery were worth $2,326,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners grew its position in shares of Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after acquiring an additional 4,275,994 shares during the last quarter. Invesco Ltd. lifted its holdings in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after purchasing an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Warner Bros. Discovery by 1,232.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares during the period. Finally, UBS Group AG lifted its holdings in Warner Bros. Discovery by 55.5% in the third quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock worth $43,059,000 after purchasing an additional 1,415,744 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WBD. Barrington Research reduced their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Citigroup reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Barclays reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Finally, Morgan Stanley reduced their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $8.29 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $8.69 and its two-hundred day moving average price is $10.01.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share 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.