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

State of New Jersey Common Pension Fund D boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,348,805 shares of the company’s stock after purchasing an additional 19,730 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Warner Bros. Discovery worth $15,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WBD. Fortis Group Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $25,000. Pacifica Partners Inc. lifted its position in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the last quarter. Peoples Bank KS acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $27,000. Milestone Investment Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth about $28,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded down $0.09 during mid-day trading on Thursday, reaching $8.29. The company had a trading volume of 24,660,655 shares, compared to its average volume of 26,472,490. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week 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 company has a market cap of $20.23 billion, a P/E ratio of -6.47 and a beta of 1.51. The business has a fifty day simple moving average of $8.69 and a 200 day simple moving average of $10.01.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the firm posted $0.42 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WBD. Citigroup dropped their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research report on Tuesday. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their target price for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Finally, Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.