Public Employees Retirement System of Ohio Makes New Investment in Warner Bros. Discovery, Inc. $WBD

Public Employees Retirement System of Ohio purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 729,550 shares of the company’s stock, valued at approximately $19,450,000.

Other institutional investors also recently modified their holdings of the company. Harbor Investment Advisory LLC boosted its stake in Warner Bros. Discovery by 111.2% in the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after buying an additional 496 shares in the last quarter. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $26,000. Elevation Wealth Partners LLC lifted its holdings in shares of Warner Bros. Discovery by 64.3% in the second quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after acquiring an additional 395 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $29,000. Finally, MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research reports. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Seaport Research Partners lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. UBS Group upped their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Stock Down 0.4%

Shares of NASDAQ WBD opened at $28.77 on Friday. The company’s 50 day moving average price is $26.95 and its 200-day moving average price is $27.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. Warner Bros. Discovery, Inc. has a 52-week low of $11.25 and a 52-week high of $30.00. The company has a market capitalization of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The company had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company posted $0.63 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 11.2% compared to the same quarter last year. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth W. Lowe sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the sale, the director owned 990,108 shares of the company’s stock, valued at $26,703,212.76. This trade represents a 10.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fazal F. Merchant sold 71,539 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $27.75, for a total value of $1,985,207.25. Following the completion of the sale, the director owned 33,067 shares of the company’s stock, valued at approximately $917,609.25. The trade was a 68.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,750,749 shares of company stock valued at $48,329,633. 0.70% of the stock is currently owned by insiders.

Warner Bros. Discovery 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.