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

State of Alaska Department of Revenue increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,070 shares of the company’s stock after purchasing 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at $87,000. DekaBank Deutsche Girozentrale increased its stake in Warner Bros. Discovery by 55.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock valued at $5,079,000 after purchasing an additional 218,270 shares during the period. PFG Investments LLC raised its holdings in shares of Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after buying an additional 1,517 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth about $116,000. Finally, Forsta AP Fonden grew its holdings in shares of Warner Bros. Discovery by 11.8% during the third quarter. Forsta AP Fonden now owns 489,569 shares of the company’s stock worth $4,039,000 after buying an additional 51,500 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBD has been the subject of several analyst reports. Moffett Nathanson cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays cut their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Morgan Stanley dropped 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 analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Stock Up 1.2 %

NASDAQ:WBD opened at $8.23 on Friday. 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 capitalization of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average price is $7.83 and its 200 day moving average price is $7.82.

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

Warner Bros. Discovery 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.