Carmignac Gestion Purchases 50,418 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Carmignac Gestion increased its Warner Bros. Discovery stake by 27.1% in the first quarter, purchasing 50,418 additional shares and bringing its holdings to 236,373 shares valued at approximately $6.49 million.
• Institutional investors and hedge funds own 59.95% of WBD shares, while several other firms recently initiated or expanded positions.
• Warner Bros. Discovery reported a significant quarterly loss of $1.17 per share, missing estimates by $1.07, and analysts maintain a consensus “Hold” rating with an average price target of $27.04.

Carmignac Gestion boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,373 shares of the company's stock after acquiring an additional 50,418 shares during the period. Carmignac Gestion's holdings in Warner Bros. Discovery were worth $6,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Swiss RE Ltd. bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $30,000. Rakuten Securities Inc. lifted its holdings in Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after buying an additional 521 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $26.30 on Monday. The stock has a market cap of $65.94 billion, a P/E ratio of -37.57 and a beta of 1.55. The firm has a 50 day moving average price of $26.57 and a 200 day moving average price of $27.28. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 52-week low of $10.76 and a 52-week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its 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 firm had revenue of $8.89 billion during the quarter, compared to analyst estimates 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 for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.18) earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current year.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research note on Monday, June 1st. KeyCorp reiterated an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Weiss Ratings downgraded Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. UBS Group raised their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Zacks Research cut Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.

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