Strs Ohio Cuts Stake in Warner Bros. Discovery, Inc. $WBD

Strs Ohio cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 628,309 shares of the company’s stock after selling 97,883 shares during the period. Strs Ohio’s holdings in Warner Bros. Discovery were worth $17,253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WBD. Venturi Wealth Management LLC increased its position in Warner Bros. Discovery by 4.5% during the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of Warner Bros. Discovery by 2.6% during the 1st quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after buying an additional 369 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 12.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after buying an additional 378 shares during the last quarter. William B. Walkup & Associates Inc. raised its position in shares of Warner Bros. Discovery by 5.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 7,837 shares of the company’s stock worth $215,000 after buying an additional 414 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in Warner Bros. Discovery by 20.2% in the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after acquiring an additional 419 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $26.48 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. Warner Bros. Discovery, Inc. has a 1-year low of $10.76 and a 1-year high of $30.00. The company has a market capitalization of $66.39 billion, a price-to-earnings ratio of -37.83 and a beta of 1.54. The business has a 50-day moving average of $26.91 and a 200-day moving average of $27.63.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. UBS Group upped their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price for the company. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.