New York State Teachers Retirement System Grows Stock Position in Warner Bros. Discovery, Inc. $WBD

New York State Teachers Retirement System increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,706,823 shares of the company’s stock after buying an additional 1,010 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Warner Bros. Discovery worth $19,560,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WBD. Brighton Jones LLC raised its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares during the period. Farther Finance Advisors LLC raised its position in Warner Bros. Discovery by 17.0% in the first quarter. Farther Finance Advisors LLC now owns 11,853 shares of the company’s stock valued at $121,000 after purchasing an additional 1,720 shares during the period. GAMMA Investing LLC raised its position in Warner Bros. Discovery by 16.1% in the first quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock valued at $493,000 after purchasing an additional 6,354 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Warner Bros. Discovery by 10.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,774 shares of the company’s stock valued at $2,380,000 after purchasing an additional 21,147 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.5%

Warner Bros. Discovery stock opened at $18.19 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month high of $20.24. The stock’s fifty day simple moving average is $15.52 and its 200-day simple moving average is $12.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $45.03 billion, a P/E ratio of 60.64, a P/E/G ratio of 2.23 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.07) earnings per share. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Seaport Global Securities boosted their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Raymond James Financial boosted their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Finally, UBS Group boosted their target price on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Insider Buying and Selling

In related news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anton J. Levy bought 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the purchase, the director owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 970,115 shares of company stock worth $17,818,490. Corporate insiders own 1.90% of the company’s stock.

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.