111,106 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by ING Groep NV

Key Points

• ING Groep NV purchased 111,106 shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD), valued at approximately $1.192 million, indicating increasing institutional interest in the stock.
• Warner Bros. Discovery's stock price declined 8.0% recently, trading at $10.91, while the company's market cap stands at $26.78 billion.
• The company reported a quarterly earnings per share (EPS) of $0.63, significantly surpassing analyst expectations and showing a year-over-year revenue increase of 1.0%.

ING Groep NV acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 111,106 shares of the company's stock, valued at approximately $1,192,000.

Other hedge funds also recently bought and sold shares of the company. Slate Path Capital LP increased its holdings 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 worth $251,577,000 after buying an additional 6,381,000 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after purchasing an additional 1,725,775 shares during the last quarter. Northern Trust Corp increased its holdings in Warner Bros. Discovery by 13.5% in the 4th quarter. Northern Trust Corp now owns 22,996,874 shares of the company's stock valued at $243,077,000 after purchasing an additional 2,735,196 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Warner Bros. Discovery by 0.7% in the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company's stock valued at $227,637,000 after purchasing an additional 139,453 shares during the last quarter. Finally, FMR LLC increased its holdings in Warner Bros. Discovery by 478.5% in 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 last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analyst Weigh In

WBD has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Citigroup dropped their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Monday, July 14th. UBS Group lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Twelve investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.84.

Warner Bros. Discovery Stock Down 8.0%

Shares of Warner Bros. Discovery stock traded down $0.95 during trading on Friday, hitting $10.91. 62,146,520 shares of the stock were exchanged, compared to its average volume of 79,212,872. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of 36.37 and a beta of 1.57. The firm's 50-day moving average price is $11.52 and its 200 day moving average price is $10.33. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $13.86. 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 released 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. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same period in the previous year, the company earned ($4.07) EPS. The company's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.