TIAA Trust National Association Acquires 1,753 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TIAA Trust National Association increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,735 shares of the company’s stock after purchasing an additional 1,753 shares during the quarter. TIAA Trust National Association’s holdings in Warner Bros. Discovery were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Employees Retirement Association of Colorado increased its position in Warner Bros. Discovery by 5,128.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after acquiring an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. increased its position in Warner Bros. Discovery by 23.5% during the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after acquiring an additional 213,149 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after acquiring an additional 5,081 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Warner Bros. Discovery during the first quarter valued at $182,000. Finally, SageView Advisory Group LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at $129,000. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WBD has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Barrington Research reissued an “outperform” rating and set a $15.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. Evercore ISI lowered their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein decreased their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $12.29.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded down $0.28 during trading hours on Monday, reaching $8.39. The company’s stock had a trading volume of 13,751,253 shares, compared to its average volume of 28,008,313. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of -6.70 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.64.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.39 EPS for the current 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.