State of Alaska Department of Revenue Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of Alaska Department of Revenue raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,070 shares of the company’s stock after buying an additional 17,590 shares during the quarter. State of Alaska Department of Revenue’s holdings in Warner Bros. Discovery were worth $2,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after buying an additional 5,100,000 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after acquiring an additional 3,826,715 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares in the last quarter. Finally, Clifford Capital Partners LLC purchased a new position in shares of Warner Bros. Discovery in the second quarter valued at $14,760,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $8.23 on Friday. The company has a 50 day moving average price of $7.83 and a 200-day moving average price of $7.82. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the previous year, the firm posted ($0.51) EPS. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.5 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on WBD shares. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Barclays lowered their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Morgan Stanley cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.66.

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.