Allianz Asset Management GmbH Grows Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Allianz Asset Management GmbH grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,001 shares of the company's stock after purchasing an additional 19,964 shares during the period. Allianz Asset Management GmbH's holdings in Warner Bros. Discovery were worth $2,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. FMR LLC grew its stake in shares of Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after purchasing an additional 11,810,191 shares during the period. Slate Path Capital LP boosted its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares during the last quarter. KBC Group NV grew its position in Warner Bros. Discovery by 682.8% during the first quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after buying an additional 6,232,561 shares during the period. Sachem Head Capital Management LP purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $64,847,000. Finally, Duquesne Family Office LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $49,231,000. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WBD. Raymond James Financial reduced their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Benchmark restated a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday. Citigroup cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and an average price target of $12.66.

Warner Bros. Discovery Price Performance

WBD stock traded down $0.09 during trading on Thursday, hitting $13.17. 55,433,759 shares of the company's stock traded hands, compared to its average volume of 74,120,952. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $13.86. The stock has a market capitalization of $32.33 billion, a price-to-earnings ratio of -2.99 and a beta of 1.54. The business has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $10.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter last year, the firm posted ($0.40) EPS. Warner Bros. Discovery's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.