Retirement Systems of Alabama Has $32.76 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Retirement Systems of Alabama lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,970,918 shares of the company's stock after selling 345,580 shares during the quarter. Retirement Systems of Alabama owned approximately 0.16% of Warner Bros. Discovery worth $32,760,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WBD. OFI Invest Asset Management raised its position in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. Commerce Bank grew its stake in shares of Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company's stock worth $462,000 after purchasing an additional 1,286 shares during the period. GAM Holding AG increased its holdings in Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company's stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company's stock valued at $234,000 after buying an additional 1,461 shares during the period. Finally, PFG Investments LLC boosted its holdings in Warner Bros. Discovery by 1.4% during the third quarter. PFG Investments LLC now owns 112,307 shares of the company's stock worth $927,000 after buying an additional 1,517 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.42 during midday trading on Friday, reaching $12.07. 36,581,051 shares of the company were exchanged, compared to its average volume of 29,640,697. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of -2.64 and a beta of 1.52. The business has a 50-day moving average price of $9.11 and a two-hundred day moving average price of $8.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the business posted ($0.17) earnings per share. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday. Rosenblatt Securities increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday. Bank of America reiterated a "buy" rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Finally, Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.33.

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.