KLP Kapitalforvaltning AS Increases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

KLP Kapitalforvaltning AS lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,027 shares of the company's stock after buying an additional 60,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Warner Bros. Discovery were worth $8,509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WBD. Colonial Trust Advisors boosted its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock valued at $160,000 after buying an additional 1,318 shares in the last quarter. Bessemer Group Inc. raised its holdings in Warner Bros. Discovery by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock valued at $139,000 after buying an additional 1,338 shares in the last quarter. CX Institutional grew its position in shares of Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 9.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after purchasing an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WBD shares. Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Raymond James Financial lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Twelve analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and an average target price of $12.41.

Warner Bros. Discovery Trading Down 0.1%

WBD stock traded down $0.01 during trading on Friday, reaching $13.49. 74,364,318 shares of the stock were exchanged, compared to its average volume of 72,897,584. 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 business has a 50 day moving average price of $10.76 and a 200-day moving average price of $10.10. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.68. The firm has a market capitalization of $33.11 billion, a price-to-earnings ratio of -3.07 and a beta of 1.54.

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