Asset Management One Co. Ltd. Purchases 79,919 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Asset Management One Co. Ltd. boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,006,946 shares of the company's stock after buying an additional 79,919 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Warner Bros. Discovery were worth $10,805,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in Warner Bros. Discovery by 6.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 69,156 shares of the company's stock worth $742,000 after purchasing an additional 4,447 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Warner Bros. Discovery by 19.7% during the first quarter. Oppenheimer & Co. Inc. now owns 347,208 shares of the company's stock valued at $3,726,000 after buying an additional 57,023 shares during the period. EQ Wealth Advisors LLC bought a new position in Warner Bros. Discovery in the first quarter worth about $97,000. Flagship Harbor Advisors LLC raised its stake in Warner Bros. Discovery by 9.7% in the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock worth $160,000 after buying an additional 1,318 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Warner Bros. Discovery by 4.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 219,391 shares of the company's stock worth $2,354,000 after buying an additional 9,075 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $11.15 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $9.43 and a 200 day moving average price of $9.95. The stock has a market cap of $27.37 billion, a PE ratio of -2.53 and a beta of 1.51.

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

Analysts Set New Price Targets

WBD has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Citigroup cut their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. KeyCorp cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Barrington Research reiterated an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 9th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average price target of $12.17.

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.

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