South Dakota Investment Council Has $5 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

South Dakota Investment Council cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439,248 shares of the company’s stock after selling 16,000 shares during the period. South Dakota Investment Council’s holdings in Warner Bros. Discovery were worth $4,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its holdings in Warner Bros. Discovery by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after acquiring an additional 53,909 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Warner Bros. Discovery by 39.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after buying an additional 120,586 shares in the last quarter. New South Capital Management Inc. raised its holdings in shares of Warner Bros. Discovery by 21.1% in the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after purchasing an additional 711,820 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after purchasing an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $105,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 1.3 %

WBD traded down $0.11 during midday trading on Wednesday, reaching $8.33. The company’s stock had a trading volume of 13,287,247 shares, compared to its average volume of 26,401,473. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of -6.52 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76. The stock’s 50-day moving average is $8.72 and its 200-day moving average is $10.02.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WBD shares. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, January 11th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research report on Tuesday. Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Citigroup reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price target for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target 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.