Asahi Life Asset Management CO. LTD. Purchases Shares of 33,630 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,630 shares of the company's stock, valued at approximately $361,000.

Several other institutional investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in Warner Bros. Discovery by 30.1% during the 1st quarter. Apollon Wealth Management LLC now owns 44,785 shares of the company's stock valued at $481,000 after buying an additional 10,350 shares in the last quarter. Signaturefd LLC grew its holdings in Warner Bros. Discovery by 24.8% during the 1st quarter. Signaturefd LLC now owns 33,155 shares of the company's stock valued at $356,000 after buying an additional 6,586 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Warner Bros. Discovery by 44.3% during the 1st quarter. Bleakley Financial Group LLC now owns 22,509 shares of the company's stock valued at $242,000 after buying an additional 6,915 shares in the last quarter. CWM LLC boosted its holdings in shares of Warner Bros. Discovery by 9.8% in the 1st quarter. CWM LLC now owns 74,248 shares of the company's stock worth $797,000 after purchasing an additional 6,601 shares during the period. Finally, Ballentine Partners LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $170,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WBD. Bank of America lifted their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Raymond James Financial dropped their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, KeyCorp dropped their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.41.

Warner Bros. Discovery Stock Up 2.1%

NASDAQ WBD traded up $0.26 on Thursday, reaching $12.84. 125,204,727 shares of the stock traded hands, compared to its average volume of 38,035,242. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average price of $10.37 and a 200-day moving average price of $10.02. The company has a market cap of $31.52 billion, a price-to-earnings ratio of -2.92 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.04.

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

About Warner Bros. Discovery

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.