Texas Permanent School Fund Corp Has $2.73 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Texas Permanent School Fund Corp decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,742 shares of the company’s stock after selling 91,640 shares during the period. Texas Permanent School Fund Corp’s holdings in Warner Bros. Discovery were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WBD. Choreo LLC grew its holdings in Warner Bros. Discovery by 63.2% during the 2nd quarter. Choreo LLC now owns 35,049 shares of the company’s stock worth $249,000 after acquiring an additional 13,577 shares during the period. Clifford Swan Investment Counsel LLC increased its holdings in Warner Bros. Discovery by 13.4% in the second quarter. Clifford Swan Investment Counsel LLC now owns 414,452 shares of the company’s stock worth $3,084,000 after purchasing an additional 48,942 shares in the last quarter. PFG Investments LLC lifted its stake in Warner Bros. Discovery by 15.8% in the second quarter. PFG Investments LLC now owns 110,790 shares of the company’s stock valued at $824,000 after buying an additional 15,114 shares during the period. Harrington Investments INC boosted its holdings in shares of Warner Bros. Discovery by 6.7% during the 2nd quarter. Harrington Investments INC now owns 30,314 shares of the company’s stock worth $226,000 after buying an additional 1,896 shares in the last quarter. Finally, Private Management Group Inc. grew its position in shares of Warner Bros. Discovery by 28.4% during the 2nd quarter. Private Management Group Inc. now owns 4,999,275 shares of the company’s stock worth $37,195,000 after buying an additional 1,104,696 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Macquarie lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Stock Up 0.8 %

WBD opened at $8.56 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company’s 50-day moving average price is $7.78 and its two-hundred day moving average price is $7.97. The stock has a market cap of $20.97 billion, a price-to-earnings ratio of -6.90 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted ($0.51) earnings per share. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Warner Bros. Discovery Company Profile

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.