Strs Ohio Acquires 329,460 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Strs Ohio raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,228,000 shares of the company’s stock after acquiring an additional 329,460 shares during the period. Strs Ohio owned approximately 0.09% of Warner Bros. Discovery worth $25,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WBD. Fortis Group Advisors LLC acquired a new position in Warner Bros. Discovery during the third quarter valued at approximately $25,000. Peoples Bank KS acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $27,000. Pacifica Partners Inc. increased its position in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in Warner Bros. Discovery during the 3rd quarter worth $28,000. Finally, Headinvest LLC bought a new position in Warner Bros. Discovery during the third quarter worth about $28,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 0.2 %

Shares of Warner Bros. Discovery stock opened at $8.36 on Tuesday. The stock has a market cap of $20.40 billion, a P/E ratio of -6.53 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The business’s 50 day moving average is $8.89 and its 200-day moving average is $10.10.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. JPMorgan Chase & Co. cut their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Redburn Atlantic cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, January 11th. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Finally, Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.24.

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.