Retirement Systems of Alabama Has $5.57 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Retirement Systems of Alabama decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 489,067 shares of the company’s stock after selling 12,451 shares during the quarter. Retirement Systems of Alabama’s holdings in Warner Bros. Discovery were worth $5,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC acquired a new stake in Warner Bros. Discovery during the third quarter valued at $25,000. Peoples Bank KS purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $27,000. Pacifica Partners Inc. lifted its holdings in shares of Warner Bros. Discovery by 118.2% during 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 during the last quarter. Milestone Investment Advisors LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $28,000. Finally, Headinvest LLC acquired a new position in Warner Bros. Discovery in the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 0.3 %

Shares of WBD stock opened at $7.97 on Monday. The stock has a market cap of $19.44 billion, a P/E ratio of -6.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $8.45 and a 200 day moving average price of $9.87. Warner Bros. Discovery, Inc. has a one year low of $7.34 and a one year high of $14.76.

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

Analysts Set New Price Targets

Several analysts have commented on WBD shares. Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research report on Thursday, January 11th. Citigroup cut 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. JPMorgan Chase & Co. decreased their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Finally, Barrington Research dropped their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

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.