California Public Employees Retirement System Sells 155,518 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

California Public Employees Retirement System decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,886,045 shares of the company’s stock after selling 155,518 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Warner Bros. Discovery worth $44,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Warner Bros. Discovery by 0.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 200,720 shares of the company’s stock worth $2,284,000 after purchasing an additional 1,769 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $194,000. Lindbrook Capital LLC grew its holdings in shares of Warner Bros. Discovery by 28.5% during the fourth quarter. Lindbrook Capital LLC now owns 9,888 shares of the company’s stock valued at $113,000 after buying an additional 2,196 shares during the last quarter. abrdn plc increased its position in shares of Warner Bros. Discovery by 25.7% during the fourth quarter. abrdn plc now owns 1,557,678 shares of the company’s stock worth $17,726,000 after acquiring an additional 318,496 shares in the last quarter. Finally, Vantage Investment Partners LLC boosted its stake in Warner Bros. Discovery by 22.6% during the 4th quarter. Vantage Investment Partners LLC now owns 1,085,000 shares of the company’s stock valued at $12,347,000 after purchasing an additional 200,000 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.2 %

WBD stock opened at $8.11 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76. The stock has a fifty day moving average of $8.65 and a 200-day moving average of $9.99. The company has a market capitalization of $19.79 billion, a price-to-earnings ratio of -6.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. Warner Bros. Discovery’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent research reports. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, January 11th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $13.83.

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.