Deutsche Bank AG Boosts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Deutsche Bank AG increased its stake in Warner Bros. Discovery by 16.9%, owning over 10.9 million shares valued at approximately $117 million as of the latest reporting period.
• Warner Bros. Discovery reported a quarterly earnings per share (EPS) of $0.63, exceeding expectations of ($0.16), while the company’s revenue for the quarter was $9.81 billion, surpassing analysts' estimates.
• Analysts show mixed ratings for Warner Bros. Discovery stock, with 12 hold ratings, 8 buy ratings, and an average price target around $12.84.

Deutsche Bank AG grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,900,519 shares of the company's stock after buying an additional 1,578,944 shares during the period. Deutsche Bank AG owned 0.44% of Warner Bros. Discovery worth $116,963,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WBD. FMR LLC lifted its position 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 buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP lifted its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. KBC Group NV lifted its position in shares of Warner Bros. Discovery by 682.8% during the 1st 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 in the last quarter. Sachem Head Capital Management LP purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $64,847,000. Finally, Duquesne Family Office LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $49,231,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday. KeyCorp lowered their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. UBS Group boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial lowered their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday. Twelve research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.84.

Warner Bros. Discovery Stock Down 8.0%

Shares of WBD opened at $10.91 on Friday. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 36.37 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.86. The business's 50 day simple moving average is $11.52 and its 200-day simple moving average is $10.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.07) EPS. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.

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