Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Mitsubishi UFJ Asset Management has increased its stake in Warner Bros. Discovery by 16.7%, owning 4.31 million shares worth approximately $46.3 million at the end of the first quarter.
• Various hedge funds have enhanced their positions in Warner Bros. Discovery, with FMR LLC boosting its stake by an impressive 478.5% during the fourth quarter.
• Analysts have mixed outlooks on the stock, with a consensus rating of "Hold" and an average price target of $12.84, reflecting a cautious optimism about future performance.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,314,822 shares of the company's stock after buying an additional 617,534 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Warner Bros. Discovery worth $46,298,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC increased its stake in shares of 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 during the last quarter. Bessemer Group Inc. grew its stake in Warner Bros. Discovery by 11.4% during the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock worth $139,000 after buying an additional 1,338 shares during the last quarter. CX Institutional raised its stake in Warner Bros. Discovery by 5.7% during the 1st quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after acquiring an additional 1,465 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Warner Bros. Discovery by 9.0% during the 1st 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 in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Warner Bros. Discovery by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock valued at $676,000 after purchasing an additional 1,588 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Argus upgraded Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Finally, Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Twelve equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.84.

Warner Bros. Discovery Price Performance

Shares of WBD stock traded up $0.44 during trading on Tuesday, hitting $11.22. The company had a trading volume of 48,488,272 shares, compared to its average volume of 77,702,832. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock's 50-day moving average is $11.56 and its two-hundred day moving average is $10.34. The stock has a market capitalization of $27.54 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 2.56 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $13.86.

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