Warner Bros. Discovery, Inc. $WBD Holdings Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,904 shares of the company’s stock after selling 32,467 shares during the period. Illinois Municipal Retirement Fund’s holdings in Warner Bros. Discovery were worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 5.7% during the second quarter. ProShare Advisors LLC now owns 3,766,608 shares of the company’s stock valued at $43,165,000 after purchasing an additional 203,829 shares during the period. Midwest Trust Co bought a new position in Warner Bros. Discovery during the 2nd quarter valued at $634,000. CSM Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at $166,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Warner Bros. Discovery by 6.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,601,500 shares of the company’s stock worth $52,733,000 after acquiring an additional 286,678 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Warner Bros. Discovery by 12.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock valued at $94,000 after purchasing an additional 899 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent research reports. Redburn Partners set a $28.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, October 30th. Argus set a $27.00 price objective on Warner Bros. Discovery in a research report on Tuesday, October 28th. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Morgan Stanley upped their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Finally, Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $21.78.

Warner Bros. Discovery Trading Down 3.7%

Shares of NASDAQ WBD opened at $22.19 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $23.19. The business has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $13.76. The firm has a market capitalization of $54.94 billion, a PE ratio of 73.97, a PEG ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00. Following the completion of the sale, the chief financial officer owned 918,940 shares in the company, valued at $20,676,150. This represents a 19.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,192,325 shares of company stock valued at $22,818,215. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery 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.