National Bank of Canada FI increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 40.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,019,450 shares of the company's stock after buying an additional 581,308 shares during the quarter. National Bank of Canada FI owned 0.08% of Warner Bros. Discovery worth $21,668,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of WBD. Vanguard Group Inc. lifted its position in shares of Warner Bros. Discovery by 1.7% in the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company's stock worth $2,755,679,000 after buying an additional 4,169,240 shares during 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 worth $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Warner Bros. Discovery by 7.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after purchasing an additional 1,725,775 shares during the last quarter. Northern Trust Corp lifted its position in shares of Warner Bros. Discovery by 13.5% during the 4th quarter. Northern Trust Corp now owns 22,996,874 shares of the company's stock worth $243,077,000 after purchasing an additional 2,735,196 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company's stock worth $227,637,000 after purchasing an additional 139,453 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on WBD. Barclays boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Bank of America boosted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. KeyCorp cut their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Raymond James Financial cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Twelve research 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.84.
View Our Latest Report on Warner Bros. Discovery
Insider Buying and Selling
In other news, Director Anton J. Levy bought 250,000 shares of the stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares of the company's stock, valued at $9,526,600. This trade represents a 40.06% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company's stock.
Warner Bros. Discovery Stock Up 7.4%
NASDAQ:WBD traded up $0.83 on Wednesday, hitting $12.05. The stock had a trading volume of 60,161,462 shares, compared to its average volume of 47,115,395. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $29.58 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 2.56 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The firm's fifty day simple moving average is $11.60 and its two-hundred day simple moving average is $10.35.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the firm earned ($4.07) EPS. The company's revenue was up 1.0% compared to the same quarter last year. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.
Warner Bros. Discovery Company Profile
(
Free Report)
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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