Illinois Municipal Retirement Fund Buys 34,652 Shares of Warner Bros. Discovery, Inc. $WBD

Illinois Municipal Retirement Fund boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 750,178 shares of the company’s stock after purchasing an additional 34,652 shares during the period. Illinois Municipal Retirement Fund’s holdings in Warner Bros. Discovery were worth $21,620,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fideuram Asset Management Ireland dac bought a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. grew its position in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co grew its position in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares during the period. Elyxium Wealth LLC bought a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $44,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $46,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.2%

Shares of Warner Bros. Discovery stock opened at $26.23 on Thursday. The company’s fifty day simple moving average is $27.14 and its 200-day simple moving average is $27.50. The stock has a market capitalization of $65.76 billion, a PE ratio of -37.47 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 1-year low of $9.98 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. The trade was a 71.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on WBD shares. Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. TD Cowen lifted their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price for the company. Raymond James Financial reiterated an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Finally, Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.