Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 905,634 shares of the company’s stock after selling 6,481 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Warner Bros. Discovery were worth $7,471,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth about $27,000. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the second quarter worth about $26,000. OFI Invest Asset Management grew its holdings in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. Transcendent Capital Group LLC grew its holdings in Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares during the period. Finally, LRI Investments LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth about $39,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on WBD. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Raymond James raised their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays raised their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $9.33 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $22.88 billion, a price-to-earnings ratio of -2.04 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.76 and a current ratio of 0.80. The business’s 50 day moving average price is $7.93 and its 200 day moving average price is $7.83.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the business posted ($0.17) earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.55 EPS for the current year.

About Warner Bros. Discovery

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.