Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,232 shares of the company’s stock after selling 5,825 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Warner Bros. Discovery were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $33,000. FinTrust Capital Advisors LLC boosted its holdings in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at $35,000. Crewe Advisors LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at $27,000. Finally, First Financial Corp IN raised its position in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.32 on Friday, hitting $8.31. 22,906,845 shares of the company were exchanged, compared to its average volume of 27,455,124. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $7.73 and a 200 day moving average price of $8.54. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of -6.70 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period last year, the firm posted $0.18 EPS. The business’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Friday, May 10th. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Evercore ISI decreased their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 17th. Finally, Macquarie cut shares of Warner Bros. Discovery from an “outperform” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.87.

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.